![\"carlos-cordeiro-listens-as-president-donald-trump-speaks-during-a-fifa-task-force-meeting-on-the-2026-fifa-world-cup-in-the-east-room-of-the-white-house-tuesday-may-6-2025-in-washington-ap-photo\"](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/1785513313_463_.jpeg\")
\n Carlos Cordeiro during a Fifa task force meeting on the 2026 World Cup in the White House. Alamy Stock Photo<\/p>\n
PRESSURE IS MOUNTING on Fifa president Gianni Infantino after his senior adviser quit over controversial plans to sell stakes in the World Cup to private investors.<\/p>\n
Infantino\u2019s plan has been rejected by the European and Asian confederations, as well as the one representing nations from North and Central America and the Caribbean.<\/p>\n
Uefa has confirmed that European national teams will not play in Fifa competitions until the project is scrapped.<\/p>\n
The plans to sell a minority stake in a new company, Fifa Forward Enterprise, to private investors was first reported by The Times of London and the Financial Times on Tuesday.<\/p>\n
Football\u2019s governing body later confirmed that Thrive Eternal \u2013 a company founded by Joshua Kushner, the brother of US president Donald Trump\u2019s son-in-law Jared Kushner \u2013 had been earmarked as the leader of the investor group.<\/p>\n
Infantino previously indicated that the proposals would need a straight majority to go through \u2013 meaning 106 of its 211 members needed to vote in favour for the proposal. It now looks unlikely that the plans would be approved should they be put to a vote.\u00a0<\/p>\n
Now Carlos Cordeiro, a retired investment banker, has quit his role as top adviser to Infantino, describing the plans to create Fifa Forward Enterprise as a \u201cbad deal for football\u201d.<\/p>\n
\u201cFootball 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. That is why this proposal should be rejected,\u201d he said in a statement.<\/p>\n
Cordeiro also questioned the need for Fifa to even seek private equity investment in this way, stating:\n<\/p>\n
Fifa already has access to extraordinary financial resources.<\/p>\n
\u201cThe organisation sits on billions of dollars in reserves and no debt. The Fifa president himself has highlighted the 15 billion US dollars (\u20ac13.07 billion) in revenue generated between 2022 and 2026.<\/p>\n
\u2018Mortgaging football\u2019s future without justification\u2019<\/p>\n
\u201cIf 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.<\/p>\n
\u201cAgainst that backdrop, selling a permanent stake in football\u2019s most valuable asset to raise 4.2 billion dollars (\u20ac3.66 billion) makes little sense. It is mortgaging football\u2019s future without any compelling justification.\u201d<\/p>\n
\n Carlos Cordeiro during a Fifa task force meeting on the 2026 World Cup in the White House. Alamy Stock Photo<\/p>\n
Alamy Stock Photo\n<\/p>\n
He continued: \u201cFifa 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.<\/p>\n
\u201cMost 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?<\/p>\n
\u201cThese 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\u2019s game.\u201d<\/p>\n
Cordeiro said the controversial plan \u201chas become a defining question\u201d for Fifa\u2019s future.<\/p>\n
\u201cAfter careful consideration, I can no longer continue in my role as Senior Advisor to the FIFA President. I have therefore resigned with immediate effect,\u201d he said.\u00a0<\/p>\n
\u201cFIFA\u2019s 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.\u201d<\/p>\n
Criticism<\/p>\n
Uefa, which has 55 member associations, was the first confederation to turn the screw on Infantino\u2019s proposal. It announced on Thursday<\/a> that European nations would boycott Fifa competitions until the plan was scrapped.<\/p>\n Statement on behalf of UEFA and its 55 National Associations<\/p>\n