Carlos Cordeiro has left his post as Gianni Infantino’s senior adviser, following controversial plans to sell stakes of the World Cup. FIFA have come under fire this week as a result of proposals to shift shares of some of its most prestigious competitions to the highest bidder.
That move was ultimately met with a fierce backlash, with UEFA vowing to boycott FIFA competitions if plans proceed. CONCACAF, which is the governing body of football in North and Central America as well as the Caribbean, also noted how its 41 member associations ‘rejected’ the proposals, which were made by Infantino. Fierce criticism was swiftly met by a response from FIFA that “nobody is selling football.”
However, in a damning turn of events, Cordeiro has distanced himself from the shock move by leaving his post as Infantino’s adviser. He also released a scathing statement of his own on matters.
It read: “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. 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.
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“That is why this proposal should be rejected. 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 $15 billion 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 $4.2 billion makes little sense.
“It is mortgaging football’s future without any compelling justification. Such economic success was not accidental. It was delivered by experienced football professionals who shattered FIFA’s commercial records.
“Yet despite those achievements, FIFA is now being asked to believe that outside investors are needed to unlock greater value. I do not accept that proposition. The people who built this success have already demonstrated that FIFA possesses the expertise to continue growing both the game and its commercial future.
“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?
“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. That is not a responsible way to determine the future of the world’s game.
“This proposal has become a defining question for FIFA’s future. After careful consideration, I can no longer continue in my role as Senior Advisor to the FIFA President. I have therefore resigned with immediate effect.
“FIFA’s responsibility is not to maximise commercial returns at any cost. It is to protect and strengthen football for future generations. When those principles come into conflict, football must come first.
“It has been the privilege of a lifetime to serve FIFA for more than five years and to work alongside dedicated, principled people who care deeply about the game. I hope they, too, will speak up, because decisions of this magnitude should be made in the interests of football, not those who stand to profit from it.”