Cordeiro, a former Goldman Sachs executive brought on to steer FIFA’s strategic growth, made his exit public after denouncing the creation of the FIFA Forward Enterprise subsidiary. He argued that selling off a portion of the organization’s most valuable asset is unnecessary given that FIFA holds billions in reserves and currently carries no debt. According to his statement, the move to raise $4.2 billion through this equity sale undermines the long-term health of the game for the sake of short-term capital.
The resignation places significant pressure on FIFA’s 211 member associations, who face a September 19 deadline to decide on the proposal. Cordeiro, who previously served as vice president of the U.S. Soccer Federation, insisted he had no hand in the plan and cautioned that member associations risk being marginalized if they succumb to the financial pressure. Despite Gianni Infantino’s projections of $15 billion in revenue for the 2022-2026 cycle, Cordeiro remains firm that the organization possesses more than enough existing resources to support its members without liquidating its core assets.
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