Key facts
- Carlos Cordeiro, a senior FIFA adviser, resigned from his position.
- Cordeiro protested FIFA's plan to sell a stake in the World Cup's commercial subsidiary.
- He described the proposed $20 billion subsidiary as a "bad deal for football."
- Cordeiro previously served as president of the U.S. Soccer Federation.
- The proposal involves selling 20% of the subsidiary to private investors.
- European nations have agreed to boycott FIFA competitions in protest of the plan.
Carlos Cordeiro, a senior FIFA adviser and former Goldman Sachs banker, has resigned from his role on the White House Task Force for the World Cup. His resignation is a protest against FIFA President Gianni Infantino's plan to sell a stake in the tournament's commercial subsidiary.
Cordeiro stated he had no involvement in the proposal and unequivocally opposes it, calling the creation of a $20 billion subsidiary with 20% ownership by private investors a "bad deal for football." He argued that FIFA, with its substantial reserves and revenue, has no compelling justification to mortgage its future by selling a permanent stake.
He shared that he worked alongside Infantino for five years and hopes other dedicated FIFA staff will also speak out against decisions that prioritize profit over the interests of football. European nations have reportedly agreed to boycott FIFA competitions in protest of the plan, and North America's soccer body has also rejected the proposal.
Infantino has been FIFA president for over 10 years and is expected to seek reelection unopposed next March, with a deadline set for challengers to come forward.