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FIFA President Infantino's advisor resigns over World Cup stake sale plan
FIFA President Gianni Infantino's senior advisor, American Cordeiro, resigned in opposition to the proposal to open the World Cup to investors. Cordeiro argued the share sale was unnecessary, noting FIFA has billions of dollars in reserves.
Cordeiro, the American senior advisor to FIFA President Gianni Infantino, resigned in opposition to the proposal to open the World Cup to investors.
Sharing his resignation letter with British broadcaster Sky News, Cordeiro stated that Infantino's proposal to open the World Cup to investors jeopardizes FIFA's future.
Cordeiro, who has served as Infantino's advisor for five years, stressed that he had no role in preparing the proposal. "This proposal has become an issue that will determine FIFA's future. After carefully considering the matter, I have decided that I cannot continue in my role as senior advisor to the FIFA President, and I am therefore resigning from my position effective immediately," he said.
Cordeiro pointed out that FIFA's primary mission is not to turn a profit but to protect football, and reminded that the institution has billions of dollars in reserves and carries no debt. Noting that the FIFA President had stated that $15 billion in revenue was generated in the 2022-2026 period, Cordeiro said, "If member federations believe additional investment is needed for the development of football, FIFA already has the financial capacity to meet this with its existing resources. Under these circumstances, selling a permanent stake in football's most valuable asset for $4.2 billion makes no sense."
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