Carlos Cordeiro, the senior adviser to FIFA president Gianni Infantino, resigned Friday in protest of the governing body’s plans to sell stakes in the World Cup.
Meanwhile, the COO of FIFA has also blasted Infantino’s desire to introduce private investors into the tournament’s financing, calling it “the project of one person.”
These represented the latest reactions to Infantino’s highly unpopular announcement on the heels of the 2026 FIFA World Cup. Earlier this week, FIFA revealed a commercial subsidiary called FIFA Forward Enterprise, of which the governing body would retain a majority stake.
While Infantino has defended his plan as beneficial for member nations that could access increased development money, member nations of UEFA (Europe’s governing body) voted to boycott World Cups moving forward if the plan goes through. Members of CONCACAF, representing North America, Central America and the Caribbean, also “unequivocally” rejected the proposition.
Cordeiro, 70, had been Infantino’s adviser for five years. He is the former president of U.S. Soccer (2018-20) and a Goldman Sachs banker before that.
“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,” Cordeiro wrote in a lengthy statement concerning his resignation.
“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.”
Cordeiro pointed out that FIFA “sits on billions of dollars in reserves” and carries no debt as an organization.
“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,” Cordeiro said. “Against that backdrop, selling a permanent stake in football’s most valuable asset to raise $4.2 billion makes little sense. It is mortgaging football’s future without any compelling justification.”
FIFA has argued that outside investors won’t have an operational role in the tournament and will invest in a subsidiary rather than in FIFA itself.
With Infantino setting a Sept. 19 deadline for member federations to express support in the plan, UEFA on Thursday was critical of FIFA announcing its plan without “meaningful consultation” with other stakeholders.
Kevin Lamour, FIFA’s chief operating officer, levied a similar critique in a statement to the Associated Press.
Lamour said staff inside FIFA felt “deceived” by Infantino and the opaque nature of the process, adding they “deserve better than contempt and intimidation.”
“It is the project of one person,” Lamour wrote. “Not only must this project not go ahead … but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.”
The Frenchman went on to add, “And if that means I lose my job then so be it. I will understand and respect that decision. At least I’ll sleep well tonight.”
Lamour campaigned for Infantino in the 2016 FIFA presidential election.
