FIFA Advisor Carlos Cordeiro Resigns Over World Cup Stake Sale Plans

Carlos Cordeiro, senior advisor to FIFA President Gianni Infantino, has resigned due to his opposition to plans for selling stakes in the World Cup to private investors. Cordeiro had served for five years in this role following his investment banking career. He criticized FIFA’s proposal as detrimental to FIFA’s Member Associations, football, and the game’s long-term future.

World football’s governing body outlined plans to sell a significant minority stake in a new entity intended to manage major events such as the World Cups and Club World Cups. The plans faced backlash, notably from UEFA, Concacaf, and the Asian Football Confederation (AFC), with UEFA even threatening a boycott of the World Cup.

Cordeiro, who also represented FIFA on the U.S. government’s World Cup task force for the 2026 tournament, expressed his strong opposition. “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,” he stated. He emphasized his non-involvement in the proposal and firmly opposed it.

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 plans to sell one-fifth of this new entity, FIFA Forward Enterprises (FFE), to an investor group led by Thrive Eternal for $4.2 billion. This would then be distributed to member associations willing to participate through a new scheme called the FIFA Fast-Forward Programme. Cordeiro noted FIFA’s existing substantial resources, citing the $15 billion revenue from the 2022-2026 World Cup cycle, questioning the need for such a stake sale to raise funds.

He argued, “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.”

UEFA, Concacaf, and the AFC initially had issues with the consultation process and later rejected the proposals. On Friday, FIFA released a statement asserting that “nobody is trying to sell football,” declaring its intentions to move forward with the plans.

Cordeiro also critiqued the transparency and governance of the process, posing several unanswered 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 concerns led Cordeiro to resign with immediate effect.

Appointed as FIFA’s senior advisor for global strategy and governance in September 2021, Cordeiro previously served as U.S. Soccer president from 2018 to 2020. His tenure ended following backlash in a lawsuit over equal pay for the women’s national team.

“It has been the privilege of a lifetime to serve FIFA for over five years and work alongside dedicated, principled people,” Cordeiro remarked. He urged others to voice their concerns, as decisions of such magnitude should prioritize the interests of football, not profit.

Following Cordeiro’s departure and the AFC’s statement, UK Prime Minister Andy Burnham criticized Infantino, calling him the “wrong man” to lead FIFA. In a statement to the BBC, he said, “This was an outrageous suggestion. The idea that it could even be brought forward, in my view, shows that the FIFA general secretary is the wrong man to lead the organization.”