Infantino’s closest adviser quits, denounces World Cup plan as ‘bad deal for football — The Times of India

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Infantino’s closest adviser quits, denounces World Cup plan as ‘bad deal for football — The Times of India | AIPROPX

Pressure on FIFA president Gianni Infantino over his controversial World Cup investment proposal has deepened after one of his closest advisers, Carlos Cordeiro, resigned in protest, becoming the most senior figure within the governing body's leadership to publicly break ranks over the plan.Cordeiro, who has served as Infantino's senior adviser since 2021, announced his immediate resignation in a lengthy public statement on Friday, describing FIFA's proposal to sell a minority stake in the commercial rights to its competitions as "a bad deal for football" and questioning both the financial rationale and the governance surrounding the initiative.His departure comes as opposition to the proposal continues to grow, with UEFA, Concacaf and, most recently, the Asian Football Confederation (AFC) all publicly rejecting the plans, leaving Infantino facing mounting resistance from both football's governing bodies and now his own inner circle.Cordeiro says he can no longer support the proposalIn a statement announcing his resignation, Cordeiro said FIFA's proposal had become a "defining question" for the organisation's future and confirmed he was stepping down with immediate effect because he could no longer support it."This proposal has become a defining question for FIFA's future. After careful consideration, I can no longer continue in my role as Senior Advisor to the FIFA President. I have therefore resigned with immediate effect."As a Senior Advisor to the FIFA President, a former banker, and a lifelong football fan, I cannot stand by while FIFA considers selling a stake in the World Cup."Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA's Member Associations, a bad deal for football, and a bad deal for the long-term future of the game."Cordeiro argued that FIFA had no financial need to pursue outside investment, pointing to the governing body's strong balance sheet and the revenues it has already generated.He noted that FIFA holds billions of dollars in reserves, carries no debt and has projected around $15 billion in revenue between 2022 and 2026, questioning why it would permanently sell part of what he described as football's most valuable asset to raise approximately $4.2 billion."It is mortgaging football's future without any compelling justification," he said.Former banker questions governance and transparencyDrawing on more than three decades in investment banking, Cordeiro said the proposal left fundamental questions unanswered.Among the issues he raised were why the deal was necessary, why it was being pursued now, what oversight mechanisms would exist, whether there had been a competitive bidding process, what governance framework would apply and what long-term rights investors would ultimately receive.He also criticised the timetable for the proposal, saying FIFA's member associations were being asked to make a decision with far-reaching consequences within a matter of weeks."These 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," he wrote."That is not a responsible way to determine the future of the world's game."Concluding his statement, Cordeiro said the proposal had become a defining moment for FIFA and that he could no longer remain in his role."FIFA's responsibility is not to maximize 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."Ferguson ended his statement with a direct appeal to current FIFA officials, encouraging them to oppose the proposal if they believed it was not in football's best interests. "It has been the privilege of a lifetime to serve FIFA for more than five years and to work alongside dedicated, principled people who care deeply about the game. 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 added.Long-time adviser held influential role within FIFACordeiro was appointed as a senior adviser to the FIFA president in 2021 with responsibility for advising the organisation on strategic initiatives aimed at growing football worldwide. More recently, he was also appointed by US President Donald Trump to serve as Senior Advisor to the White House Task Force for the 2026 FIFA World Cup, Announcing the appointment, Infantino described him as "the right person" to help modernise FIFA's regulatory framework and expand the game across men's, women's and youth football.Before joining FIFA, Cordeiro built a lengthy career in international investment banking, serving as a vice chairman at Goldman Sachs after advising governments and multinational companies across Europe, the Middle East, Africa and Asia. He also holds an MBA from Harvard Business School. His financial background has given added significance to his criticism of the proposal, particularly his assessment that FIFA already possesses the resources required to invest in football without bringing in external investors.Proposal continues to face growing oppositionThe controversy centres on FIFA's proposal to establish FIFA Forward Enterprise (FFE), a new commercial subsidiary that would own and manage the commercial rights to FIFA competitions, including broadcasting, sponsorship, ticketing and licensing.Under the plan, FIFA would retain majority ownership while selling a 20% minority, non-controlling stake, valuing the business at around $20 billion and raising an estimated $4.2 billion. The reported lead investor is Thrive Eternal, a fund launched by Thrive Capital founder Josh Kushner, whose brother Jared Kushner is the son-in-law of US President Donald Trump, FIFA has also promised up to $40 million in funding for each of its 211 member associations if the proposal is approved in a vote scheduled before 1...