A Harsh Reckoning

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Carlos Codeiro (left) has no sympathy for the plans of FIFA President Gianni Infantino.(Bild: AFP/DOUG MILLS)

Another bitter setback for FIFA boss Gianni Infantino! In protest against his plan to sell stakes in the World Cup to investors, one of his closest confidants has now resigned as well. In a statement, Carlos Codeiro also delivers a scathing rebuke, as reported by “Sky News.”

“As a senior advisor to the FIFA president, a former banker, and a lifelong soccer fan, I cannot stand idly by and watch as FIFA considers selling a stake in the World Cup,” Cordeiro begins the statement announcing his resignation. 

It is important for the 70-year-old to make it clear that he himself had nothing to do with the plans to sell shares in the World Cup. “I was in no way involved in this proposal and firmly reject it. It is a bad deal for FIFA’s member associations, a bad deal for soccer, and a bad deal for the long-term future of the sport,” he states bluntly. Cordeiro most recently represented the world governing body on the White House task force for the 2026 World Cup in the U.S., Canada, and Mexico.

Carlos Cordeiro (left) with Gianni Infantino during a visit with U.S. President Donald Trump.(Bild: AP/Doug Mills)

Finally, he offers a recommendation to the member associations. “Soccer plays a central role in my life, and after more than 35 years in banking, I understand both the value of this asset and the consequences of giving up a portion of it. That is why this proposal should be rejected.”

Resistance Is Growing
But even before that, significant resistance had already emerged from the continental confederations. Following UEFA and CONCACAF, the Asian confederation, the AFC, also voted against Infantino’s plan on Friday. This puts him under increasing pressure.

FIFA counters: “No one is selling soccer”
Even before Cordeiro’s resignation and the AFC’s veto of the plans, FIFA had announced on Friday that it intended to press ahead withtheplan to establish a commercial subsidiary despite fierce criticism and threats of a boycott: “Our planned consultation process has been disrupted by misleading media reports. We will continue this consultation process to ensure that every member association can cast its vote based on the actual facts.”

“No one is selling soccer,” the world governing body asserted. “That is something FIFA would never even consider.” FIFA Forward Enterprise (FFE) was proposed solely to ensure that all FIFA member associations have the opportunity to make meaningful use of soccer’s commercial opportunities in their respective countries. Because of these plans, “every member association should be allowed to review the proposal and have a say in shaping its own future.”

Just on Tuesday, the world governing body had announced its intention to raise more than four billion dollars (3.49 billion euros) from external investors through the planned subsidiary FFE. Future World Cup tournaments are also to be organized under the umbrella of the newly founded FFE, in which FIFA would hold a majority stake. FIFA set a deadline of September 19 for approval of the planned investor deal and promised a special payment in return.