FIFA adviser Cordeiro resigns over Infantino private equity plan

Carlos Cordeiro, a senior FIFA adviser and former U.S. Soccer Federation president, resigned Friday in protest of a proposal to sell a 20% stake in FIFA's commercial subsidiary to private equity investors, according to ESPN. Cordeiro represented FIFA on the White House Task Force for the World Cup and had worked alongside FIFA president Gianni Infantino for five years, often joining him at meetings with President Donald Trump at the White House.

Cordeiro's resignation signals an internal rift within FIFA over Infantino's plan to spin off the organization's commercial businesses, including World Cups and Club World Cups for men and women, into a $20 billion subsidiary. Per ESPN's reporting, the anchor investor in the deal is a New York-based investment firm created by Joshua Kushner, the younger brother of Trump's son-in-law Jared Kushner. The proposal would raise approximately $4.2 billion for FIFA from the 20% stake sale.

In his resignation statement, Cordeiro stated, per ESPN, "I cannot stand by while FIFA considers selling a stake in the World Cup." He emphasized that he "had no involvement in this proposal" and opposed it "unequivocally." Cordeiro, a former Goldman Sachs banker with more than 35 years in financial services, framed his objection as grounded in understanding both the asset's value and the consequences of surrendering equity. "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 said, according to ESPN.

Cordeiro's central argument centers on FIFA's financial position. According to ESPN, he noted that FIFA already has access to extraordinary resources, sits on billions of dollars in reserves, and carries no debt. FIFA's revenue totaled $15 billion over the last four years tied to the men's World Cup that just concluded, per ESPN's reporting. Given that foundation, Cordeiro stated, per ESPN, that "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."

Cordeiro called on other FIFA staff to follow his lead. "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," he said, per ESPN. His call carries weight within FIFA's power structure, though no other senior staff members have publicly announced resignations in response.

Infantino has been FIFA president for more than 10 years. FIFA has set a November 18 deadline for challengers to come forward for the presidency election, per ESPN, indicating that opposition to Infantino's leadership may shape the organization's next leadership cycle.