Carlos Cordeiro Resigns Over FIFA’s World Cup Stake Sale Plans

Carlos Cordeiro, Senior Advisor to FIFA President Gianni Infantino, has resigned due to opposition to selling stakes in the World Cup to private investors. Cordeiro, 70, served for five years after a career in investment banking. He labeled FIFA’s proposals as unfavorable for its Member Associations, football, and the sport’s future.

FIFA, the global football authority, unveiled plans to sell a minority stake in a new entity meant to organize key events like the World Cup and Club World Cups. This announcement provoked strong objections, including from UEFA (Europe), Concacaf (North and Central America), and the Asian Football Confederation (AFC), with some threatening a World Cup boycott unless these plans are shelved.

Cordeiro, who represented FIFA at the U.S. government’s World Cup task force for the 2026 tournament, issued a statement: “As a Senior Advisor, former banker, and lifelong football fan, I oppose selling a stake in the World Cup. I had no involvement in this proposal and oppose it unequivocally. Football has been central to my life, and, with over 35 years in banking, I understand the asset’s value and the impact of parting with any of it.”

FIFA plans to sell 20% of the new entity, FIFA Forward Enterprises (FFE), to an investor group led by Thrive Eternal for $4.2 billion. The funds would be allocated to member associations via the FIFA Fast-Forward Programme (FFFP). Cordeiro highlighted FIFA’s already significant financial resources, noting the $15 billion revenue from the 2022-2026 World Cup cycle, questioning the need to sell a stake to raise funds.

He stated that if Member Associations need extra investment to develop the game, FIFA already has the funds to support this from existing resources. “Selling a permanent stake in football’s most valuable asset to raise $4.2 billion lacks justification and mortgages football’s future,” Cordeiro stated.

UEFA, Concacaf, and the AFC criticized the consultation process regarding the plans before officially rejecting them. FIFA insisted through a statement that it is not attempting to sell football, yet it continues with the proposals. Cordeiro questioned the transparency and governance of the proposal, labeling it as irresponsible.

“Why this deal? Why now? What oversight? Who benefits? Was it competitive? What governance will be in place? What will investors ultimately gain?” Cordeiro queried. After considering these issues, he resigned effective immediately.

Cordeiro joined FIFA for global strategy and governance in September 2021, was U.S. Soccer president from 2018 to 2020, and resigned amid backlash over a women’s national team equal pay lawsuit. He concluded, “It has been a privilege to serve FIFA and work with principled individuals who care about the game. I hope they, too, will speak up as decisions should be made in football’s interest, not for profit.”

UEFA and Concacaf held separate discussions over the plans, with The Athletic reporting questions raised on Infantino’s leadership during these meetings. FIFA stated, “Nobody is selling football; everyone has the right to express opposition and seek clarity, but no single entity represents all 211 Member Associations worldwide.”

The UK Prime Minister Andy Burnham, who had already criticized FIFA’s plans, called Infantino “the wrong man” to lead world football’s governing body. “This suggestion is outrageous and indicates FIFA’s general secretary isn’t fit to lead,” Burnham told reporters.