Pressure is mounting on FIFA President Gianni Infantino to abandon a proposal to privatize elements of the World Cup. This plan could attract investments up to $20 billion but has faced strong criticism from major soccer governing bodies worldwide.
The most recent criticisms emerged when a senior adviser to Infantino resigned in protest, and the Asian Football Confederation (AFC) expressed its deep concerns. “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 AFC stated.
UEFA, the European football association, and CONCACAF, representing North American teams, had previously voiced opposition. CONCACAF, traditionally led by Mexico and the United States, issued a statement on Thursday. They pointed out issues with the process’s lack of transparency, an imposed short deadline, and absence of review by FIFA’s governance bodies. Furthermore, they questioned the necessity of external investment after what is considered the most profitable FIFA World Cup in history.
FIFA’s plan was unveiled on Tuesday. The organization intends to separate its commercial operations into a new subsidiary, the FIFA Forward Enterprise (FFE), which would be partially owned by private investors. A key investor would be a New York firm initiated by Joshua Kushner, brother-in-law to President Donald Trump’s son-in-law, Jared Kushner.
The recent World Cup, co-hosted by the U.S., Mexico, and Canada, was a resounding success. It attracted record crowds and high viewership. Spain emerged victorious over Argentina in a memorable final at New York’s MetLife Stadium.
“Our planned consultation process was disrupted by incorrect media reports,” stated FIFA on Friday. “We will proceed with this consultation process to ensure that each member has the ability to express its vote based on facts.”
The controversy deepened as one of Infantino’s key advisers, Carlos Cordeiro, resigned, describing the private investment scheme as “a bad deal for football.” Cordeiro, a former senior executive at Goldman Sachs, claimed he was unaware of the plan and strongly opposed it. “I cannot stand by while FIFA considers selling a stake in the World Cup,” he remarked in his resignation letter.
Cordeiro’s resignation calls for other senior officials to voice their concerns about the plan. He has been a longtime companion to Infantino, participating in meetings with President Trump at the White House, and contributing to the World Cup task force led by Andrew Guiliani.
“Let me be clear. I had no involvement in this proposal, and I oppose it unequivocally,” Cordeiro emphasized, reiterating his stance as a former U.S. Soccer Federation president.
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