The crisis surrounding FIFA over its intention to open the door to private investors for the World Cup has entered a new chapter. Carlos Cordeiro, Gianni Infantino’s chief advisor, submitted his immediate resignation on Friday after publicly rejecting the proposal to sell a stake in soccer’s most important tournament.
The executive made it clear that he was not part of the initiative and stated that he is completely opposed to the project. In a statement posted on his social media accounts, he described the move as harmful to member associations, to soccer, and to the future of the sport.
The controversy arose after FIFA proposed the creation of FIFA Forward Enterprise (FFE), a subsidiary intended to manage the organization’s commercial operations and major events, including the World Cup. As part of the plan, the organization intends to sell 20 percent of this new company to private investors, an initiative that could only be carried out with the approval of a majority of the 211 member associations.
Cordeiro argued that FIFA does not need to resort to this type of transaction, as it already has sufficient financial resources to continue promoting the development of soccer worldwide. He even questioned the logic of raising $4.2 billion in exchange for compromising the organization’s most valuable asset.
The now-former advisor warned that the proposal represents a decision with enormous consequences for the future of soccer and criticized the short timeframe given to the federations to make a decision, arguing that it is not a responsible way to chart the course of the sport.
Cordeiro’s resignation increases the pressure on Gianni Infantino, whose plan is already facing strong international opposition. Just one day earlier, UEFA confirmed that its national federations will not participate in FIFA competitions, while other confederations, such as those of Central America and the Caribbean and Asia, also expressed their rejection of the plan.
For Cordeiro, FIFA’s priority must remain protecting and strengthening soccer above any commercial interests, which is why he decided to end his tenure as senior advisor to the organization’s president.
