Carlos Cordeiro, senior advisor to FIFA president Gianni Infantino, resigned with immediate effect on Friday in protest at proposals to sell a stake in the World Cup, saying the plan was "a bad deal for football."


Cordeiro, a former Goldman Sachs vice chairman, ex-U.S. Soccer Federation vice president and one of Infantino's closest advisers since 2021, said he could not support FIFA's proposal to sell part of its flagship commercial asset to outside investors, Caliber.Az reports via foreign media.


FIFA has proposed creating a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to manage the commercial rights to the World Cup and other FIFA competitions, with up to a 20% stake to be offered to external investors.


"Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally," Cordeiro said in a statement.


"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."


Cordeiro questioned why FIFA would seek to raise about $4.2 billion by selling part of what he described as its "most valuable asset" when the governing body has billions of dollars in reserves and no debt.


His resignation comes as FIFA's 211 member associations are under pressure to decide on the proposal by Sept. 19, with Cordeiro warning they "risk being left behind" if they do not accept it.


"The FIFA President himself has highlighted the $15 billion in revenue generated between 2022 and 2026," Cordeiro added, arguing that FIFA already has the financial resources to provide greater support to its member associations.


"Against that backdrop, selling a permanent stake in football's most valuable asset to raise $4.2 billion makes little sense."


Cordeiro was appointed as Infantino's senior advisor in 2021 to help develop strategic initiatives aimed at growing football globally.


At the time of his appointment, Infantino said: "Carlos is the right person to advise us as we modernise our regulatory framework and grow the sport in ways that advance football for men, women and youth across the globe."


Before joining FIFA, Cordeiro spent decades in international investment banking across Europe, the Middle East, Africa and Asia, serving as vice chairman at Goldman Sachs. He also served as vice president of the U.S. Soccer Federation and holds an MBA from Harvard Business School.


By Aghakazim Guliyev