FIFA’s proposal to sell off its competitions, including the World Cup, has a new deadline for association members to support in order to gain extra funds, but UEFA is considering its own proposal of boycotting the next World Cup.
Cordeiro, who was on the White House World Cup Task Force, said in a statement that he “cannot stand by while FIFA considers selling a stake in the World Cup”.
He has been alongside Infantino for several meetings with US President Donald Trump before and during the World Cup. Cordeiro is also a former banker with Goldman Sachs with 35 years of experience in the banking industry.
“Let me be clear. I had no involvement in this proposal, and I oppose it unequivocally,” said Cordeiro.
“Football has been central to my life, and after more than 35 years in banking, I understand both the value of this asset and the consequences of giving part of it away” he said. “That is why this proposal should be rejected.”
In 2018, Cordeiro was elected as the US Soccer Federation President, but resigned in 2020. He has since worked for FIFA, under the leadership of Infantino, where has served as senior advisor for Global Strategy and Governance.
Cordeiro is among many football associations to protest against FIFA Forward Enterprise. The proposal launched by Infantino would see private equity and capital venture firms invest into this new entity organised by FIFA to buy shares into its competitions, including the World Cup.
CONCACAF and the Asian Football Confederation (AFC) have more recently opposed the proposal, following UEFA’s lead, as the European football organisation stated its 55 members have agreed to boycott the 2030 World Cup if the proposal goes ahead.
If all UEFA, CONCACAF and AFC associations vote ‘no’ at the 19 September vote, the FFE will not go ahead.
“FIFA already has access to extraordinary financial resources. The organisation sits on billions of dollars in reserves and no debt,” added Cordeiro.
“Against that backdrop, selling a permanent stake in football’s most valuable asset to raise $4.2bn makes little sense. It is mortgaging football’s future without any compelling justification.”
The AFC issued a statement regarding FIFA’s proposal and the threat of a 2030 World Cup boycott “should concern everyone who cares about the future of our game”.
As the AFC has 47 association members, this brings the total number of FIFA association members opposing FFE to 143, meaning if all UEFA, CONCACAF and AFC associations vote ‘no’ at the 19 September vote, the FFE will not go ahead.
“The AFC stands in solidarity with UEFA and CONCACAF in expressing serious concerns over FIFA’s proposal to introduce private investment into FIFA’s flagship competitions and the decision-making process around FFE,” said the AFC in a statement.
“The fact that the situation has reached the point where the real possibility of a FIFA World Cup boycott has entered public discourse should concern everyone who cares about the future of our game. Football should never have been placed in such a position.
“Accordingly, the AFC calls upon FIFA to undertake an urgent review of its governance and decision-making framework to ensure that proposals of global significance are developed through proper consultation, meaningful engagement and appropriate oversight by FIFA’s statutory bodies.”
“During the meeting, the membership expressed deep concerns about the lack of due process surrounding the proposal, the artificially short deadline imposed, and the absence of any review or approval by the relevant FIFA governance bodies.
“In addition, the need for private equity investment to fund new and existing FIFA Forward programs following the most profitable FIFA World Cup in history was questioned.“For these reasons, CONCACAF and its 41 Member Associations have: Rejected the proposal.”
“UEFA and its 55 member associations stand as one. We unanimously and unequivocally reject FIFA’s proposal to transfer ownership interests in the World Cup and other FIFA competitions to private investors,” said UEFA in a statement.
“The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies. It has been built over generations by players, national teams and supporters across every continent. No part of it should ever be surrendered to private investors. The World Cup is not for sale.”
UK Culture Secretary Lisa Nandy said: “This is a principled decision that we strongly support. Football belongs to the fans, not billionaire investors. Enough is enough. It’s time to take a stand to protect our game.”
FIFA President Gianni Infantino has recently said its private equity proposal to sell off shares in the World Cup will unlock “previous uncaptured commercial value”. These claims come as FIFA association members consider boycotting the next World Cup.
Infantino said FIFA Forward Enterprise (FFE) is part of a “democratic consultation process” but emphasised it is not an “obligation”.
Reports have emerged since the announcement of FFE that FIFA association members will be offered up to $40m if they agree to the proposal before a 19 September vote. Those who do not could only stand to make $10m.
“It would simply commercialise and organise all FIFA competitions, along with sponsorship, broker licensing and a new venture for the benefit of FIFA’ 211 member’s associations, unlocking previous uncaptured commercial value,” said Infantino.
“Strengthening the commercial side of the game is the natural next step. We believe the FFE proposal would unlock (football’s) potential in every corner of the world, across men’s, women’s and youth football.”
FFE is a commercial entity seeking to raise up to $20bn from private equity and capital management firms by selling off FIFA competitions, such as the World Cup.
Some of the early backers for the project includes Thrive Eternal, a capital holding company led by Joshua Kushner, the brother of Jared Kushner who is the son-in-law of President Donald Trump.
One of the most vocal organisations vehemently against FIFA’s proposal is UEFA. The European football organisation stated after the FFE announcement that the World Cup is “not FIFA’s to sell”.
UEFA meeting and possible World Cup boycott
After receiving knowledge of FIFA’s deadline for support of FFE, UEFA released a statement which said it knows there is “significant and growing opposition to FIFA’s scheme”.
“FIFA cannot continue to use our sport to enrich themselves and their friends,” said the uEFA statement. “We can grow the game correctly. It’s time to prioritise associations, clubs, leagues, players and fans.”
UEFA intends to hold an emergency meeting today (30 July) to discuss a response and potential boycott of the 2030 FIFA World Cup, set to be co-hosted by Portugal and Spain alongside Morocco, if FFE is approved by a majority vote in September.
A boycott would immediately throw the 2030 World Cup into disarray due to being co-hosted in Portugal and Spain, however, this is contingent on both countries voting no to FFE.
If all 55 UEFA association members were to boycott the next World Cup, this would also damage the competitions reputation and competitive level. Three out of the four semi-finalists of the 2026 World Cup were European countries (England, France, Spain) with Spain the current World Cup champions.
Which associations will agree to FIFA’s proposal?
There has yet to be any FIFA association member to have formally voted ‘yes’ to FFE but some organisations have expressed their support.
President of the Czech Republic association David Trunda believes investment from firms by selling off FIFA competitions will bring a “positive impact”, as it will help fund football operations across the Czech Republic. The association has a meeting scheduled for 11 August to determine its vote.
The Croatian football association is one of the first to publicly criticise the funding venture, supporting UEFA’s stance. The English football association stated it is ‘deeply concerned’ by the proposal as a spokesperson stated they were “completely unaware”.
“Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved,” said the English FA spokesperson.
“When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear, and comment further.”
UK Prime Minister Andy Burnham is also a critic of the FFE, writing in a post on X that “Football does not belong to investors”.
When the vote happens amongst FIFA’s 211 association members in September, the vote requires a 75% majority vote for it to pass and be approved.
