Carlos Cordeiro: Top Gianni Infantino aide quits amid World Cup sell-off plan backlash

Backlash grows against FIFA president’s money-spinning FFE scheme

Carlos Cordeiro, senior adviser to Gianni Infantino, has resigned his post amid backlash to the FIFA president’s plans to sell off shares of the World Cup to private investors.

Infantino has faced concerted pushback against his money-spinning FIFA Forward Enterprise (FFE), which would allow private equity firms to purchase controlling stakes in FIFA tournaments.

The scheme was devised in private and Infantino has attempted to rush through its approval. Opposition has grown rapidly, though, as UEFA and its 55 member nations threatened to boycott upcoming FIFA tournaments if the plans go through. CONCACAF and the Asian Football Confederation have made similar statements.

And Infantino now appears to be losing the support of his inner circle as his senior adviser Cordeiro has quit, releasing a bombshell statement distancing himself from FFE and its conception.

He wrote: “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.

“Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA's Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.”

He continued: “Football has been central to my life, and after 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.

Carlos Cordeiro (R) joins Gianni Infantino and Donald Trump in the Oval Office for a press conference regarding the White House World Cup task force

Getty

“FIFA already has access to extraordinary financial resources. The organisation sits on billions of dollars in reserves and no debt.

“The FIFA President himself has highlighted the $15bn in revenue generated between 2022 and 2026. 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 $4.2bn makes little sense. It is mortgaging football’s future without any compelling justification.”

He also questioned Infantino’s motivations: “Most troubling of all is the absence of answers to fundamental 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?”

Cordeiro, a former investment banker at Goldman Sachs, served as president of the United States Soccer Federation between 2018 and 2020, later taking up a seat on the White House’s dedicated World Cup task force.

One of Infantino’s cited motivations for FFE was to provide further income to develop FIFA’s less wealthy members.

Calls are now growing for the FIFA president to resign as his FFE scheme earns unwanted comparisons to the proposed European Super League.

Gianni Infantino is facing calls to resign amid backlash to his FFE scheme as scrutiny grows on his relationship with President Donald Trump

In a statement released in the small hours of Friday morning, FIFA insisted there was no intention to ‘sell’ the World Cup, slamming what it described as ‘incorrect’ reports surrounding Infantino’s proposal.

It read: “FFE has been proposed solely to ensure that all FIFA Member Associations (MAs) have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, and that this does not come at the cost of either the spirit or the governance of FIFA or football itself.

“Nobody is selling football. This is not something FIFA would ever entertain.”

The English FA has joined UEFA in voicing opposition to the scheme, writing on Thursday: “We stand shoulder to shoulder with our European colleagues and fully support the collective view. We oppose FIFA’s plans - the FIFA World Cup belongs to football and always will.” Prime Minister Andy Burnham has echoed the sentiment.

Infantino has also come under fire for his close relationship with United States president Donald Trump, which he has been asked by representative Jamie Raskin to explain in front of a congressional committee.

FFE investment is due to be led by Thrive Eternal, a venture capital firm founded by Joshua Kushner, the brother of Trump's son-in-law Jared Kushner.