Carlos Cordeiro, a senior adviser to FIFA President Gianni Infantino, has resigned immediately, opposing FIFA's proposal to sell minority stakes in its major tournaments, including the World Cup.
The plan involves creating a commercial entity, FIFA Forward Enterprise (FFE), valued at approximately $20 billion (Sh2.6 trillion). FIFA intends to retain majority ownership while raising around $4.2 billion (Sh543.4 billion) from private investors.
In his resignation statement, Cordeiro emphasized that he was not involved in the development of the proposal and strongly believes it threatens the long-term sustainability of football. He described the deal as detrimental to FIFA member associations and the sport itself.
Key concerns raised by Cordeiro include:
- The unnecessary sale given FIFA's strong financial position, including multi-billion-dollar reserves and no debt.
- The risk of compromising football's future for short-term financial gain.
- Lack of transparency regarding the proposal's governance, purpose, and beneficiaries.
- Pressure on member associations to decide quickly without adequate information.
Cordeiro asserted that FIFA's primary responsibility should be to protect the integrity and future of football rather than focus on maximising commercial returns.
This resignation follows UEFA's unanimous rejection of the plan by its 55 member associations, who warned of withdrawing from FIFA competitions if private investment in flagship tournaments proceeds. UEFA and Concacaf have expressed concerns that external investors could influence tournament formats, international calendars, and football development.
FIFA President Infantino has defended the initiative, arguing that private investment will increase revenues while FIFA maintains control over football operations.
