Carlos Cordeiro, who has served as a senior adviser to FIFA, confirmed his departure from the organization on Tuesday, citing his opposition to a plan that would hand over control of the World Cup and other major tournaments to private‑equity investors.
The governing body had been considering a scheme to divest a 20 percent stake in a newly created $20 billion subsidiary, FIFA Forward Enterprises, with the aim of raising $4.2 billion. The proceeds would be funneled into the FIFA Fast‑Forward Program, a fund that would allocate up to $20 million to each of the 211 member associations that sign up to the initiative.
While FIFA argues the move is intended to provide a financial boost to developing nations, critics have warned that the arrangement amounts to mortgaging the sport’s future. Cordeiro, in his resignation statement, described the proposal as “a bad deal for football and for the long‑term health of the game,” emphasizing that the federation already commands billions in reserves and generated $15 billion in revenue between 2022 and 2026.
The backlash has been swift. The Union of European Football Associations issued a declaration that none of its 55 national teams would take part in any FIFA competition should the proposal move forward, while the Confederation of North, Central America and Caribbean Association Football and the Asian Football Confederation issued parallel statements of opposition.
Continental opposition reshapes FIFA’s future
The coordinated response from UEFA, Concacaf and AFC underscores a regional consensus that the proposed privatization could undermine competitive balance and dilute the sport’s global appeal. Their stance also reflects a broader sentiment among many member nations that the current financial model is sufficient to fund development projects without resorting to equity sales.
Thrive Eternal, the investment firm spearheading the transaction, is led by Joshua Kushner, whose brother Jared Kushner is a longtime associate of former U.S. President Donald Trump. The involvement of the Kushner family has added a political dimension to the debate, although FIFA has sought to downplay any external influence.
Under the current proposal, the sale would require endorsement from a majority of FIFA’s 211 member associations. Notably, 143 of those members are spread across the European, North American, and Asian confederations, a bloc that has already signaled its unwillingness to support the plan.
In a brief communiqué, FIFA attempted to reassure stakeholders, stating that “nobody is selling football” and that any future commercial arrangements would be pursued only with the sport’s best interests at heart. Nonetheless, the episode has reignited a broader conversation about the balance between financial growth and the preservation of football’s institutional integrity.