NewzGENEVA (AP) — Two senior FIFA officials criticized Gianni Infantino's World Cup sell-off plan Friday with one resigning as a presidential adviser and a second saying staff were deceived by project that must not go ahead.Carlos Cordeiro, who represented the soccer body on the White House Task Force for the World Cup, resigned in protest at the private equity plan.“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro, a former Goldman Sachs banker, said in a statement resigning as adviser to FIFA President Gianni Infantino that urged other senior FIFA staff to speak out.FIFA's chief operating officer Kevin Lamour said in a statement to The Associated Press staff were “deceived” by Infantino's lack of openness planning the private investor scheme and “deserve better than contempt and intimidation.”“It is the project of one person,” Lamour, a long-time colleague of Infantino at both FIFA and UEFA, wrote. “Not only must this project not go ahead … but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.”Lamour did not resign the post he held since 2024 but said he had a duty to his colleagues.“And if that means I lose my job, then so be it” the French official said. “I will understand and respect that decision.
At least I’ll sleep well tonight.”Cordeiro often joined Infantino on working visits to meet U.S. President Donald Trump at the White House in recent years.“Let me be clear. I had no involvement in this proposal, and I oppose it unequivocally,” Cordeiro, the former U.S.
Soccer Federation president said, calling the $20 billion commercial subsidiary “a bad deal for football.”“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. “That is why this proposal should be rejected.”Infantino has proposed spinning off FIFA’s commercial businesses — including World Cups and Club World Cups for men and women — into a $20 billion subsidiary with 20% owned by private investors.The “anchor investor,” described by FIFA, is a New York-based investment firm created by Joshua Kushner, the younger brother of Trump’s son-in-law Jared Kushner.“FIFA already has access to extraordinary financial resources. The organization sits on billions of dollars in reserve…
GENEVA (AP) — Pressure on FIFA President Gianni Infantino and his divisive plan to sell World Cup profits to private equity grew Friday as his senior adviser who sat on a White House panel resigned and Asia's soccer body joined Europe and North America in opposing it.An expanding crisis for soccer's governing body reached into Infantino's longtime inner circle when his pick to represent FIFA on the White House Task Force for the World Cup walked away calling the Joshua Kushner-backed $20 billion commercial subsidiary plan “a bad deal for football.”Carlos Cordeiro is a former Goldman Sachs banker and officially Infantino's Senior Adviser yet revealed he was not involved in the secretive investment plan that has rocked the sport since media reports revealed it Tuesday.“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro said in a statement formally resigning, just hours after FIFA insisted in a statement: “Nobody is selling football.”Cordeiro's exit — and call for other senior staff to speak out — intensified scrutiny on Infantino one day after European soccer body UEFA threatened to boycott all FIFA games and events until the plan is dropped. North America's CONCACAF also rejected Infantino’s offer of one-off $20 million payments to each member federation by a mid-September deadline.Cordeiro often joined Infantino on working visits to meet U.S. President Donald Trump at the White House in recent years, and took part in meetings of the administration's World Cup task force led by Andrew Guiliani.“Let me be clear.
I had no involvement in this proposal, and I oppose it unequivocally,” said Cordeiro, the former U.S. Soccer Federation president.Asia joins Europe and North AmericaOn another seismic day in soccer politics, Asia’s soccer body that has been a key ally in Infantino's 11-year presidency opposed the investor plan and said FIFA must urgently review its management styleThe Asian Football Confederation said it “stands in solidarity” with UEFA and CONCACAF, the first two continental bodies to oppose Infantino whose combined 90 FIFA member countries near a majority of the 211 global total.“Football should never have been placed in such a position,” said the Asian soccer body, which counts 46 of FIFA's 211 membersInfantino has proposed spinning off FIFA's commercial businesses — including World Cups and Club World Cups for men a… The pressure is rising on FIFA President Gianni Infantino to ditch a $20 billion privatization plan, but soccer's governing body is doubling down and criticizing the media.
After regional football federations condemned FIFA plans for private investment, Carlos Cordeiro, senior advisor to FIFA President Gianni Infantino, tendered his resignation. Carlos Cordeiro built a long career in business and global investment banking across Europe, the Middle East, Africa and Asia. (EPA Images pic)PARIS: Carlos Cordeiro, senior advisor to Fifa president Gianni Infantino, resigned with immediate effect on Friday in protest at proposals to sell a stake in the World Cup, calling the plan "a bad deal for football".Cordeiro, a former banker and ex-US Soccer Federation vice president hand-picked to help grow world soccer for Fifa, announced his immediate resignation, saying he could not "stand by while Fifa considers selling a stake in the World Cup".Fifa had proposed creating a US$20-billion subsidiary, Fifa Forward Enterprise (FFE), to run the World Cup and its other events, with a stake of up to 20% to be offered to external investors."Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally," Cordeiro said in a statement."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," he said.In his statement, Cordeiro questioned why Fifa would consider raising US$4.2 billion by selling part of its "most valuable asset" when the organisation sits on billions of dollars in reserves and has no debt.His resignation comes as Fifa's 211 member associations face pressure to decide on the controversial proposal by Sept 19, with Cordeiro saying they "risk being left behind" if they do not accept it."The Fifa president himself has highlighted the US$15 billion in revenue generated between 2022 and 2026," Cordeiro added, saying Fifa already had the financial capacity to provide additional support to member associations from its existing resources."Against that backdrop, selling a permanent stake in football's most valuable asset to raise US$4.2 billion makes little sense," he added.As senior advisor to the Fifa president, Cordeiro's remit was to "advise Fifa on new strategic initiatives to grow the game at all levels".Announcing the appointment in 2021, Infantino had said: "Carlos is the right person to advise us as we modernise our regulatory framework and grow the sport in ways that advance football for men, women and youth across the globe".Cordeiro built a long career in business and global investment banking in Europe, the Middle East and Africa (EMEA) and across Asia, advising governments and some of the world’s largest inte…
Summary from source