Carlos Cordeiro, one of the senior advisors to FIFA president Gianni Infantino, has quit in protest over the World Cup sell-off plans.
UEFA’s 55 member nations have already voted unanimously to boycott all FIFA tournaments if Infantino’s controversial proposal to sell stakes in the World Cup goes ahead.
On Friday, FIFA hit back by accusing the media of ‘disrupting’ the consultation process and insisted ‘nobody is selling football’.
But Cordeiro, who is the former president of the United States Soccer Federation and was one of FIFA’s advisors on White House Task Force for this summer’s World Cup, has accused Infantino of acting irresponsibly.
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In a statement released on Friday, Cordeiro said: As a Senior Advisor 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.
‘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 organization 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 $4.2 billion makes little sense. It is mortgaging football’s future without any compelling justification.
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‘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.
‘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.
Why is FIFA’s World Cup sell-off plan being opposed?
FIFA’s aim is to increase revenue from future World Cup and Club World Cup tournaments.
The plan is for FIFA to set up a new company called FIFA Forward Enterprise (FFE) to deal with the commercial operations.
FIFA would retain the majority share in FFE, which means it would still oversee football governance, fixture calendars and decisions on the pitch.
However, the problem starts with FIFA trying to raise a further $4.2 billion (£3.6m) through private investment.
Although private investors would only have a minority stake in FFE, they would still expect to have a say in decisions related to the World Cup, which could then have an impact on players and supporters.
Private investors could also pressure FIFA into expanding the World Cup, or even hosting the tournament more frequently than every four years.
‘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 maximize 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.’
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