Senior FIFA adviser and former banker Carlos Cordeiro resigned on Friday in protest over the football governing body’s plan to bring in outside investors by selling a stake in the commercial rights to its tournaments, AzerNEWS reports.
“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro said, adding that he had “no involvement in this proposal” and opposed it “unequivocally.” He argued that “selling a permanent stake in football’s most valuable asset to raise $4.2 billion makes little sense” and amounts to “mortgaging football’s future.”
Cordeiro’s departure comes as FIFA said it would continue consultations on its FIFA Forward Enterprise (FFE) plan despite criticism from the Union of European Football Associations (UEFA). He stated that “Member Associations are being asked to make a decision of enormous consequence in barely 50 days or risk being left behind,” arguing that it is “not a responsible way to determine the future of the world’s game.”