Carlos Cordeiro, a senior adviser for FIFA, resigned on Friday in objection to the organization’s plan involving private equity. As a representative on the White House Task Force for the World Cup, Cordeiro expressed his opposition to the idea of selling a stake in the World Cup. “I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro stated, urging other senior FIFA staff to voice their concerns.
Cordeiro, who has previously accompanied FIFA President Gianni Infantino on visits to meet former U.S. President Donald Trump at the White House, clarified his position. “Let me be clear. I had no involvement in this proposal, and I oppose it unequivocally,” he asserted, describing the $20 billion commercial subsidiary plan as “a bad deal for football.” With over 35 years in banking, he emphasized, “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.”
European nations have announced a boycott of the World Cup and other FIFA competitions to protest Infantino’s idea of involving private equity investors. North America’s soccer body also opposed the plan. Infantino suggested that FIFA’s commercial activities, including the World Cups, be spun off into a $20 billion subsidiary, with 20% ownership by private investors. The primary investor is a New York-based firm created by Joshua Kushner, brother to Jared Kushner.
According to Cordeiro, “FIFA already has access to extraordinary financial resources. The organization sits on billions of dollars in reserves and no debt.” He noted FIFA’s recent revenue of $15 billion linked to the men’s World Cup. In light of this financial strength, Cordeiro questioned the reasoning behind selling a stake in football’s most valuable asset to raise $4.2 billion, describing it as “mortgaging football’s future without any compelling justification.”
Cordeiro, who spent five years working with FIFA, said he worked alongside “dedicated, principled people who care deeply about the game.” He expressed hope that they would also speak out, emphasizing that decisions of such magnitude should prioritize football’s interests over personal gain.
Infantino, leading FIFA for over a decade, appeared poised for reelection next March. FIFA set a deadline of November 18 for any opponents to announce their candidacy.