Carlos Cordeiro, senior adviser to FIFA President Gianni Infantino, announced his resignation with immediate effect on Friday (September 13) in protest against plans to seek private investment for FIFA-administered competitions. In his statement, Cordeiro emphasized: 'I am not associated with this proposal and I absolutely oppose it. This is a bad deal for FIFA's member associations, bad for football, and bad for the long-term future of the sport.'
Under FIFA's plan, the newly established company FIFA Forward Enterprise (FFE) would create a $20 billion subsidiary to run the World Cup and other events, with up to 20% of shares offered to outside investors.
Cordeiro, a former vice president of U.S. Soccer and ex-investment banker, represented FIFA on the White House task force for the 2026 World Cup hosted by the United States, Canada, and Mexico. He was appointed senior adviser to the FIFA President in 2021, tasked with 'advising FIFA on new strategic initiatives to develop football at all levels.'
In his statement, Cordeiro questioned why FIFA would consider raising $4.2 billion from selling a stake in its 'most valuable asset' while the organization holds billions in reserves and is debt-free. He said: 'The FIFA President himself highlighted the $15 billion revenue generated in the 2022-2026 cycle, showing FIFA already has sufficient financial capacity to further support member associations from existing resources. In that context, selling a permanent stake in football's most valuable asset to raise $4.2 billion is incomprehensible.'
Cordeiro's resignation comes as FIFA's 211 member associations face pressure to decide on the controversial proposal before September 19. He warned associations risk being 'left behind' if they do not accept the proposal.
Carlos Cordeiro has a long career in global business and investment banking across Europe, the Middle East, Africa, and Asia, advising governments and major international companies. Before working for U.S. Soccer, he was a vice president at Goldman Sachs and holds an MBA from Harvard Business School.
