FIFA's $4.2B World Cup Stake Sale Plan in Disarray After Senior Adviser Quits

A controversial proposal by FIFA President Gianni Infantino to sell a stake in the World Cup to private investors is in turmoil after a senior adviser resigned in protest and a media report claimed the deal has been scrapped.

Plan Reportedly Collapses

The New York Post reported on Friday, citing four sources, that FIFA's plan to raise up to $4.2 billion had collapsed amid a global revolt from soccer officials. The proposal involved selling a 20% stake in a newly created commercial unit valued at $20 billion. Reuters could not independently confirm the report.

The news followed the immediate resignation of Carlos Cordeiro, a senior adviser to Infantino. In a statement, Cordeiro, a former banker, called the plan "a bad deal for football" and said the organization was "mortgaging football’s future without any compelling justification."

Widespread Opposition Mounts

The proposal has drawn sharp criticism from within FIFA and across the soccer world. FIFA's Chief Operating Officer, Kevin Lamour, accused Infantino of deceiving staff, describing the proposal as a "project of one person" in a statement shared with the Associated Press.

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Opposition has been led by European soccer’s governing body, UEFA, whose 55 member nations voted unanimously to boycott all FIFA tournaments if the plan proceeded. Other regional bodies have also rejected the proposal:

• CONCACAF, the federation for North America, Central America, and the Caribbean, rejected the plan.
• The Asian Football Confederation (AFC) issued a statement of solidarity with UEFA and CONCACAF.
• South America's CONMEBOL has requested more information before taking a position.

The Proposed Deal and FIFA's Response

The plan entailed creating a subsidiary, FIFA Forward Enterprise (FFE), to manage the World Cup and other events. A stake of up to 20% would then be offered to external investors, with Thrive Eternal, a fund run by Thrive Capital, expected to lead the investor group, according to FIFA.

Despite the backlash, FIFA issued a statement calling recent media coverage "incorrect media reports" and said it would "press on" with consulting its 211 national member associations. The organization stated it would not proceed without majority support and that the proposal would provide "unprecedented development funding" and "full self-determination" for its members.