Carlos Cordeiro, a senior adviser to FIFA and a former White House World Cup task force representative, has resigned from his position in protest of a controversial $20 billion plan to sell a stake in the organization's commercial businesses, including the World Cup, to private equity investors.
In a statement, Cordeiro, who previously served as president of the U.S. Soccer Federation, expressed his strong opposition to the proposal, stating, "I cannot stand by while FIFA considers selling a stake in the World Cup." He characterized the plan to create a $20 billion commercial subsidiary with a 20% private investor stake as a "bad deal for football."
Cordeiro, a former Goldman Sachs banker, emphasized his understanding of the value of football's assets, gained over 35 years in banking. He argued that selling a permanent stake in what he called "football’s most valuable asset" for $4.2 billion makes little sense, especially given FIFA's current financial strength. He pointed out that FIFA has billions of dollars in reserves and no debt, and that its last men's World Cup generated $15 billion in revenue. "It is mortgaging football’s future without any compelling justification," Cordeiro stated.
FIFA President Gianni Infantino's proposal involves spinning off commercial operations, encompassing men's and women's World Cups and Club World Cups, into a subsidiary. The plan has also drawn criticism from UEFA, which reportedly plans to boycott the World Cup and other FIFA-run competitions in response. UEFA stated that "The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies," and that "No part of it should ever be surrendered to private investors. The World Cup is not for sale."
Cordeiro had frequently accompanied Infantino to meetings with U.S. President Donald Trump at the White House. He reiterated that he had no involvement in the current proposal and unequivocally opposes it, urging other senior FIFA staff to speak out against the plan. He described his five years working for FIFA alongside Infantino with "dedicated, principled people who care deeply about the game."