AssetID: 55890638
Headline: UNCAPTIONED: Infantino Adviser Quits Over FIFA Stake Sale Proposal
Caption: Infantino Adviser Quits Over FIFA Stake Sale Proposal. Senior adviser Carlos Cordeiro has resigned from FIFA with immediate effect in protest at President Gianni Infantino's plan to sell a stake in the World Cup. Cordeiro said he had no involvement in the proposal and called it "a bad deal for football", FIFA and its member associations. FIFA wants to create a $20 billion subsidiary, FIFA Forward Enterprise, to run the World Cup and other competitions, with up to 20% offered to private investors. Cordeiro questioned why FIFA would sell part of its most valuable asset to raise $4.2 billion despite having billions in reserves and no debt. His resignation comes as FIFA's 211 member associations face a 19 September deadline to decide whether to accept the proposal. Cordeiro argued FIFA already has the financial resources to increase support for member associations without selling a permanent stake in its competitions. Infantino appointed Cordeiro as a senior adviser in 2021 to help develop strategic initiatives and grow football at all levels. A former Goldman Sachs executive and U.S. Soccer vice-president, Cordeiro said he could not support the proposed sale of a stake in the World Cup. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Sports,Carlos Cordeiro,Gianni Infantino,FIFA,FIFA Forward Enterprise,World Cup,Goldman Sachs,U.S. Soccer,private investment,football,resignation
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