Carlos Cordeiro has resigned from his role as a senior adviser to FIFA, expressing his disagreement with the organization’s proposed private equity plan. The former president of US Soccer made his announcement on Friday, representing a notable shift as FIFA continues to advance its strategy for overhauling its commercial operations.
Event Context
Carlos Cordeiro has been actively representing FIFA on the White House Task Force for the FIFA World Cup, often accompanying FIFA president Gianni Infantino in discussions with former President Donald Trump as they geared up for upcoming global tournaments.
The core of the dispute revolves around Infantino’s initiative to create a new commercial subsidiary projected to be worth around USD 20 billion. This initiative involves FIFA transferring the commercial rights to its flagship events, including both the men’s and women’s FIFA World Cups as well as the Club World Cups, to this new entity, with private investors set to obtain a 20 percent share.
FIFA has identified a leading investor for this project: a New York-based investment firm founded by Joshua Kushner, the brother of Jared Kushner, who was President Trump’s son-in-law and senior adviser.
Cordeiro, a former Goldman Sachs banker, expressed strong opposition to the proposal, stating, “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. 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.”
He continued, “That is why this proposal should be rejected. FIFA already possesses significant financial resources, with billions in reserves and no debt. Selling a permanent stake in football’s most valuable asset to raise $4.2 billion is not justified; it jeopardizes the future of football without compelling reasons.”
Labeling the latest FIFA initiative a “bad deal for football,” Cordeiro urged committed individuals within the federation to voice their concerns and oppose the plan. “I hope they, too, will speak up because decisions of this magnitude should prioritize football’s interests, not those who stand to benefit financially,” he remarked.
Prior to his advisory role at FIFA, Cordeiro served as the president of US Soccer. He resigned in 2020 after facing significant criticism regarding the federation’s legal stance in the U.S. women’s national team’s equal-pay lawsuit, which had ignited considerable backlash throughout the sport.
Match Outlook
Cordeiro’s exit comes at a crucial juncture for FIFA. Infantino, who has been at the helm of the global football governing body for over ten years, is anticipated to run for another presidential term. With the FIFA presidential election set for next March, the organization has established November 18 as the cut-off date for potential candidates to submit their nominations.
