ONE of Gianni Infantino’s closest advisers has QUIT his role following Fifa’s World Cup sell-off fiasco.
The football world has reacted in outrage and taken a stand against plans to allow private investment in the game’s biggest tournament.
Uefa and Concacaf have already resolved not to play in any Fifa tournament while the new Fifa Forward Enterprise remains in place.
And now things have got even worse for Infantino with the bombshell resignation of Carlos Cordeiro, per reports from Sky News.
The former US Soccer president told the outlet: “As a senior adviser 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.”
The former Goldman Sachs vice-chair went on to give a damning extended statement about his decision, as well as the damage the proposal could cause to the game.
He said: “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. That is why this proposal should be rejected.
“FIFA already has access to extraordinary financial resources. The organisation sits on billions of dollars in reserves and no debt.
“The FIFA President himself has highlighted the $15 billion in revenue generated between 2022 and 2026. If Member Associations believe additional investment is needed to develop the game, FIFA already has the financial capacity to provide that support from its existing resources.
“Against that backdrop, selling a permanent stake in football’s most valuable asset to raise $4.2bn makes little sense. It is mortgaging football’s future without any compelling justification.
“Such economic success was not accidental. It was delivered by experienced football professionals who shattered FIFA’s commercial records. Yet despite those achievements, FIFA is now being asked to believe that outside investors are needed to unlock greater value.
“I do not accept that proposition. The people who built this success have already demonstrated that FIFA possesses the expertise to continue growing both the game and its commercial future.”
The blow is the latest in a series of significant protests against the plans, which would see a Fifa subsidiary formed to oversee the World Cup called the Fifa Forward Enterprise, in which private companies could invest.
Uefa were the first of the continental confederations to reveal that they would boycott the World Cup should the plans remain in place.
The European body wrote after a crisis meeting on Thursday: “As a result of today’s discussion, no UEFA national teams will participate in any FIFA competition for so long as these proposals remain alive, unless this proposal has been abandoned in its entirety and binding assurances have been given that FIFA will never again open its governance or competitions to private ownership.”
Concacaf, which governs international football in North and Central America, echoed Uefa’s rejection of the proposal in no uncertain terms.
Cordeiro highlighted similar concerns, continuing: “Most troubling of all is the absence of answers to fundamental questions. Why this deal? Why now? What oversight exists? Who benefits? Was there a competitive process? What governance will be in place? What will investors ultimately gain, and at what cost to football?
“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. That is not a responsible way to determine the future of the world’s game.
“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.
“FIFA’s responsibility is not to maximise 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.
“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.”
And on Friday the Asian confederation, the Afc, affirmed that they stand with Uefa and Concacaf in condemning the plans.
They released a statement that read: “The AFC stands in solidarity with UEFA and CONCACAF in expressing serious concerns over FIFA’s proposal to introduce private investment into FIFA’s flagship competitions and the decision-making process around FFE.
“The fact that the situation has reached the point where the real possibility of a FIFA World Cup boycott has entered public discourse should concern everyone who cares about the future of our game. Football should never have been placed in such a position.
“Against this backdrop, and in light of the clear positions expressed by UEFA and CONCACAF, as well as the unprecedented divisions that have emerged across the football world, the AFC believes that the proposed FFE cannot realistically achieve the necessary broad consensus and unity required to move forward.
“The FIFA World Cup is the pinnacle of global football and derives its strength from the participation of all Confederations and the world’s leading football nations. Any proposal that risks undermining the unity and universal character of the competition must be reconsidered.”
The developments come just hours after Fifa claimed they would be pushing ahead with the plan in the face of backlash, saying in a statement: “We have heard the feedback provided by the respective confederations in relation to the proposed establishment of Fifa Forward Enterprise (FFE) and would like to address the issues that have surfaced since the initial media reporting on Tuesday.
“We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation.
”Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA has the ability to express its vote based on facts.
“FFE has been proposed solely to ensure that all Fifa Member Associations (MAs) have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, and that this does not come at the cost of either the spirit or the governance of FIFA or football itself.
“Nobody is selling football. This is not something Fifa would ever entertain.