UEFA blasts FIFA proposal to allow for $10B in World Cup private investment

UEFA has rejected a reported FIFA proposal to sell stakes in the World Cup to private investors as a "line that football's governing institutions should never cross" and that the World Cup is "not FIFA's to sell."

FIFA on Tuesday said in a news release that it plans to "expand football development funding to over USD 10 billion subject to approval by FIFA Member Associations."

The release also said that a new entity called the "FIFA Forward Enterprise (FFE) ... would raise up to USD 4.2 billion later this year to fund FFFP, based on an initial equity valuation of USD 20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests in FFE."

FIFA said that FFE would be FIFA-owned and would consolidate FIFA's commercial and event operations.

A report in The Times, to which FIFA has not responded, claims that FIFA president Gianni Infantino is planning to sell stakes in the World Cup in a scheme that could lead to a company being formed to control FIFA's most prestigious men's and women's tournaments including the World Cup and Club World Cup.

The Times also claims that "figures close to U.S. President Donald Trump" have been consulted about the plan.

Should the proposal progress, it could lead to the World Cup being overseen by a company outside of FIFA -- football's non-profit governing body.

FIFA and Infantino would face fierce opposition from UEFA, however, with the European governing body issuing a statement against the reported plan.

"This crosses a line that football's governing institutions should never cross," the statement said. "UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.

"The soul and governance of football are not assets to trade -- especially with zero transparency as to who gains financially.

"None of us are the owners of football. It is not FIFA's to sell."

FIFA president Infantino, 56, is due to stand for re-election next year.

If the Swiss-Italian wins, he would remain in post until 2031 when FIFA statutes would require him to step down due to term limits.

The Times reports suggests that Infantino has been lined up to run the company as a commissioner once his FIFA term expires.

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