Carlos Cordeiro has resigned as a senior adviser to FIFA President Gianni Infantino, protesting plans to sell a minority stake in a new commercial entity linked to the World Cup and other FIFA competitions. Reuters reports that Cordeiro quit with immediate effect, saying he could not support the proposal to offer investors up to 20 per cent of the planned 20-billion-dollar business.
Cordeiro, a former U.S. Soccer president and Goldman Sachs executive, argued that FIFA already has substantial revenues and reserves and does not need to sell part of its commercial assets.
His resignation comes amid growing opposition from UEFA and other football bodies, which have raised concerns about transparency, consultation and the commercialisation of the game. FIFA says the proposed structure is designed to attract investment and expand revenues across global football.
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