Cordeiro announced his immediate resignation, calling the initiative to seek private investment in the newly established FIFA Forward Enterprise (FFE) a “bad deal for football.” The FFE aims to create a $20 billion subsidiary to manage the World Cup, with up to 20% offered to private investors, funded by Joshua Kushner, brother of Jared Kushner.

Cordeiro distanced himself from the proposal in a statement, emphasizing his lack of involvement and expressing his strong opposition. He criticized the decision to attempt to raise $4.2 billion by selling part of FIFA’s most valuable asset, especially considering the organization holds substantial reserves and has no debt. He raised concerns about the potential negative impact on FIFA’s Member Associations and football’s long-term future.

His resignation is particularly significant as FIFA expects its 211 member associations to vote on this controversial proposal by September 19, with Infantino suggesting that dissenters risk being left behind. Cordeiro had been appointed in 2021 to help shape FIFA’s future and had previously represented FIFA on the White House Task Force for the 2026 World Cup in the U.S., Canada, and Mexico.

Cordeiro questioned the rationale behind mortgaging football’s future for additional funding when FIFA already anticipates generating $15 billion in revenue between 2022 and 2026, suggesting that the organization has adequate financial resources for supporting its members without external investment.

FIFA, based in Switzerland, defended its proposal against media criticism, stating that it would continue with its consultation process to allow each member association to vote based on accurate information. The organization’s intent aligns with its goal of modernizing its regulatory framework and growing the sport globally.