Infantino adviser resigns in protest over FIFA World Cup stake sale proposal

Cordeiro said he could not support the proposed FIFA Forward Enterprise (FFE), which would reportedly value a new subsidiary controlling the FIFA World Cup and other competitions at about $20 billion and offer external investors a stake of up to 20%.

"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," Cordeiro said in a statement.

"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."

Cordeiro, who spent more than 35 years in banking, questioned why FIFA would seek to raise $4.2 billion by permanently giving outside investors a share of what he described as football's most valuable asset.

He said FIFA already has billions of dollars in reserves, no debt and generated $15 billion in revenue 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," he said.

"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."

Cordeiro also questioned FIFA's argument that private investment and outside expertise were needed to unlock additional commercial value.

He said FIFA's recent financial success had been delivered by experienced football professionals who had already demonstrated the organization's ability to grow the game and its commercial operations.

‘Why this deal? Why now?’

Cordeiro also raised concerns about the proposal's oversight, governance, beneficiaries and whether a competitive process had been conducted to identify potential investors.

"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?" he said.

He also criticized the Sept. 19 deadline for FIFA's 211 member associations to decide on the proposal.

"These questions remain largely unanswered, and yet Member Associations are being asked to make a decision of enormous consequence in barely 50 days or risk being left behind," he said.

"That is not a responsible way to determine the future of the world's game."

Cordeiro said the proposal had become a "defining question" for FIFA, making it impossible for him to remain in his role.

"FIFA's responsibility is not to maximize commercial returns at any cost. It is to protect and strengthen football for future generations," he said.

"When those principles come into conflict, football must come first."

He also urged others within FIFA to speak out, saying decisions of such magnitude should serve football rather than those who could profit from them.

In a statement on Friday, FIFA defended the FFE proposal, saying it would permanently own and control the subsidiary and that the plan would not alter the organization's governance structure.

"Nobody is selling football," FIFA said, adding that the proposal could be approved, rejected or amended during consultations with member associations.

FIFA said each member association would receive $20 million in development funding between 2027 and 2030 regardless of how it voted, while an additional voluntary one-off payment of $20 million would be financed through external investment.

The governing body said FFE would not be established without the support of a majority of its member associations.