Carlos Cordeiro Resigns Amid Opposition to FIFA’s Investment Plans

FIFA president Gianni Infantino’s senior advisor, Carlos Cordeiro, has resigned. His opposition to plans selling stakes in the World Cup to private investors prompted the departure. Cordeiro, 70, served as an advisor for five years after a career in investment banking. He described FIFA’s proposal as “a bad deal” for the associations, football, and its future.

The world football governing body announced its plans to sell a minority stake in a new entity. This entity will manage main events like the World Cups and Club World Cups. Major federations UEFA, Concacaf, and the AFC opposed the plan, with threats from UEFA to boycott the World Cup.

Cordeiro expressed his opposition clearly in a statement. He highlighted his background in banking and as a football fan. He stated, “I cannot stand by while FIFA considers selling a stake in the World Cup.” Cordeiro had no role in the proposal and opposed it outright.

FIFA intends to sell 20% of the new entity, FIFA Forward Enterprises (FFE), for $4.2 billion. This aims to benefit associations via the FIFA Fast-Forward Programme. Cordeiro questioned this need, pointing to FIFA’s $15 billion revenue from the 2022 to 2026 cycle. He argued FIFA could support associations from its current resources.

UEFA, Concacaf, and AFC initially questioned the consultation process before rejecting the plans. FIFA insisted it was not “selling football” but would continue with the proposal. Cordeiro criticized the process’s transparency and governance.

He asked critical questions: “Why this deal? Why now? What oversight exists? Who benefits? Was there a competitive process? What governance will be in place? What will investors ultimately gain, and at what cost to football?” He concluded these concerns led to his resignation.

Cordeiro once served as U.S. Soccer president until resigning over the women’s national team’s equal pay lawsuit backlash. His experience included senior advisor to FIFA for global strategy and governance.

Cordeiro called for those within FIFA to voice concerns about the proposal’s impact. UEFA and Concacaf held meetings discussing FIFA’s leadership amid the controversy. Prime Minister Andy Burnham criticized FIFA’s proposal, stating Infantino was “the wrong man” to lead.