FIFA senior advisor resigns from role after opposing 'FFE' plans 'unequivocally'

[p]In a statement seen by multiple journalists, the former banker, who has worked as an advisor to FIFA since 2021, stated that he completely opposed the idea of selling off a minority of FIFA's stake to private investment.[/p][p]He said: "I cannot stand by while FIFA considers selling a stake in the World Cup.[/p][p]"Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA's Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.[/p][p][b]"Football has been central to my life, and after more than 35 years in banking, I understand both the value of this asset and the consequences of giving part of it away. That is why this proposal should be rejected.[/b][/p][p]"FIFA already has access to extraordinary financial resources. The organisation sits on billions of dollars in reserves and no debt. The FIFA President himself has highlighted the $15 billion in revenue generated between 2022 and 2026. If Member Associations believe additional investment is needed to develop the game, FIFA already has the financial capacity to provide that support from its existing resources.[/p][p]"Against that backdrop, selling a permanent stake in football's most valuable asset to raise $4.2 billion makes little sense. It is mortgaging football's future without any compelling justification."[/p][p][b]Cordeiro added: "This proposal has become a defining question for FIFA’s future. After careful consideration, I can no longer continue in my role as Senior Advisor to the FIFA President. I have therefore resigned with immediate effect.[/b][/p][p]"FIFA's responsibility is not to maximise commercial returns at any cost. It is to protect and strengthen football for future generations. When those principles come into conflict, football must come first.[/p][p][b]"It has been the privilege of a lifetime to serve FIFA for more than five years and to work alongside dedicated, principled people who care deeply about the game. I hope they, too, will speak up, because decisions of this magnitude should be made in the interests of football, not those who stand to profit from it."[/b][/p][p]This comes just hours after three of the world's continental bodies also refuted the idea. UEFA have been the biggest critics, announcing that [a href="https://www.flashscore.ca/news/uefa-members-to-unanimously-boycott-fifa-world-cup-in-protest-over-investment-plans/OA3XuUjS/"]all 55 of their national governing bodies[/a] would boycott all FIFA competitions in protest. CONCACAF, the governing body for North and Central America, said that they rejected the idea, whilst Asia's body - AFC - have also said they stand in solidarity with both UEFA and CONCACAF.[/p][p]FIFA and Infantino have also doubled down, [a href="https://www.flashscore.ca/news/soccer-world-championship-nobody-is-selling-football-fifa-presses-ahead-in-midst-of-uefa-boycott/j7SoDic3/"]rejecting media reports[/a] that they are 'selling off' the game and accusing journalists of disrupting the consultation process.[/p][embed guid="699ee72c-f9bf-4915-90d7-48910f191d46" url="https://x.com/fifamedia/status/2083026154085036243" social-type="twitter" /][infobox id="79bb87c6-d26e-46c2-b1ec-7eec56479c0a" /]