A senior adviser to FIFA president, Gianni Infantino, Carlos Cordeiro, has resigned in protest over plans to sell a stake in the FIFA World Cup, describing the proposal as damaging to the future of football.
Cordeiro’s departure represents a significant setback for Infantino, coming amid reports that the FIFA president is facing growing opposition within global football.
A former president of the US Soccer Federation and ex-vice chairman of Goldman Sachs, Cordeiro has been one of FIFA’s most influential advisers since his appointment in 2021.
At the time, FIFA highlighted his extensive experience in business and international investment banking as one of the reasons for bringing him into the organisation.
In an exclusive statement to Sky News, Cordeiro said, “As a senior adviser to the FIFA president, a former banker, and a lifelong football fan, I cannot stand by while FIFA considers selling a stake in the World Cup. Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA’s Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.”
The controversy centres on a proposal to sell a 20 per cent stake in a newly created subsidiary that would manage the commercial rights to the FIFA World Cup.
The venture has reportedly been valued at $20 billion, with FIFA expected to raise about $4.2 billion from private investors.
Explaining his opposition, Cordeiro argued that FIFA already possesses sufficient financial strength and questioned the rationale behind seeking outside investment.
He said, “Football has been central to my life, and after more than 35 years in banking, I understand both the value of this asset and the consequences of giving part of it away. That is why this proposal should be rejected.
“FIFA already has access to extraordinary financial resources. The organisation sits on billions of dollars in reserves and no debt. The FIFA President himself has highlighted the $15 billion in revenue generated between 2022 and 2026. If Member Associations believe additional investment is needed to develop the game, FIFA already has the financial capacity to provide that support from its existing resources. Against that backdrop, selling a permanent stake in football’s most valuable asset to raise $4.2bn makes little sense. It is mortgaging football’s future without any compelling justification.
“Such economic success was not accidental. It was delivered by experienced football professionals who shattered FIFA’s commercial records. Yet despite those achievements, FIFA is now being asked to believe that outside investors are needed to unlock greater value. I do not accept that proposition. The people who built this success have already demonstrated that FIFA possesses the expertise to continue growing both the game and its commercial future.
Cordeiro also criticised the lack of transparency surrounding the proposed transaction, raising concerns about its governance, timing and beneficiaries.
He continued, “Most troubling of all is the absence of answers to fundamental 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?
“These questions remain largely unanswered, and yet Member Associations are being asked to make a decision of enormous consequence in barely 50 days or risk being left behind. That is not a responsible way to determine the future of the world’s game.
Announcing his decision to step down, Cordeiro said, “This proposal has become a defining question for FIFA’s future. After careful consideration, I can no longer continue in my role as Senior Advisor to the FIFA President. I have therefore resigned with immediate effect.
“FIFA’s responsibility is not to maximise commercial returns at any cost. It is to protect and strengthen football for future generations. When those principles come into conflict, football must come first.
“It has been the privilege of a lifetime to serve FIFA for more than five years and to work alongside dedicated, principled people who care deeply about the game. I hope they, too, will speak up, because decisions of this magnitude should be made in the interests of football, not those who stand to profit from it.”
