FIFA World Cup Plan Fallout: Infantino’s Senior Adviser Resigns Amid Controversy Over Proposed Stake Sale
In a move that has sparked widespread criticism within the football community, FIFA President Gianni Infantino announced plans to sell stakes in its World Cups and events. The proposal, which was met with opposition from senior adviser Carlos Cordeiro, has left many questioning the wisdom of such a decision.
Cordeiro’s resignation comes as FIFA’s 211 member associations face pressure to decide on the contentious plan by September 19. Infantino had stated that they “risk being left behind” if they do not accept it, but critics argue that selling part of the organization’s most valuable asset is a bad deal for football.
The proposed stake sale would see external investors take up to 20% ownership in FIFA, with Joshua Kushner, the younger brother of Trump son-in-law Jared Kushner, set to lead the venture. The plan was first floated by Infantino during his tenure as US Soccer Federation vice president and has been met with skepticism from many within the football world.
Cordeiro had represented global governing body on the White House Task Force for the 2026 World Cup, where he worked closely with Kushner. He expressed opposition to the proposal in a statement, citing concerns that selling part of FIFA’s “most valuable asset” would be a bad deal for football and its long-term future.
The proposed stake sale has been met with criticism from various stakeholders within the football community. Argentina, for example, was charged by FIFA with violating World Cup regulations during their 2022 tournament, while other countries have expressed concerns about the potential impact on the global game.
FIFA’s Financial Fair Play (FFP) rules require member associations to invest at least $10 million in domestic projects each year. The proposed stake sale would see this amount reduced significantly, sparking fears that it could undermine FIFA’s ability to support its member associations.
Despite his opposition to the proposal, Cordeiro had built a long career in business and global investment banking before joining US Soccer as vice chairman at Goldman Sachs. His expertise has been sought by governments and international companies across various sectors.
The controversy surrounding Infantino’s plan highlights the challenges facing FIFA in modernizing its governance structure and growing the sport globally. As the deadline for member associations to decide on the proposal approaches, it remains to be seen whether they will ultimately accept or reject the proposed stake sale.
Source: Al Jazeera
Based on reporting from Al Jazeera.
