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FIFA adviser Carlos Cordeiro resigns in protest at Infantino's private equity plan
AP News • • general
Key Points:
- Senior FIFA adviser Carlos Cordeiro resigned in protest against FIFA's plan to sell a stake in the World Cup through a $20 billion commercial subsidiary, calling the deal detrimental to football.
- Cordeiro, a former Goldman Sachs banker and U.S. Soccer Federation president, emphasized FIFA's strong financial position and criticized the proposal as unnecessary and risky for the sport's future.
- FIFA President Gianni Infantino proposed spinning off FIFA’s commercial businesses, including World Cups, with 20% ownership allocated to private investors, anchored by a New York-based firm linked to Joshua Kushner.
- Cordeiro urged other senior FIFA officials to oppose the plan, stressing that decisions should prioritize football's interests rather than financial profits.
- Infantino, who has led FIFA for over a decade, is expected to seek reelection next March, with a November 18 deadline for any challengers to emerge.
