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Story summary
- Carlos Cordeiro resigned Friday, protesting Gianni Infantino’s plan to sell a 20% stake in a $20 billion commercial subsidiary because raising $4.2 billion seems unnecessary given FIFA’s $15 billion World Cup revenue.
- The subsidiary would house FIFA’s World Cups and Club World Cups and be 20% owned by a New York-based investment firm founded by Joshua Kushner.
- European nations and North America’s soccer body have announced boycotts and rejected the private-equity proposal.
