FIFA mulls stake sale through new $20 billion entity, UEFA not happy

July 28 : FIFA plans to create a new commercial subsidiary valued at $20 billion, world soccer's governing body said on Tuesday, as it seeks backing from its 211 member associations for the proposal in a move already criticised by UEFA.

The ambitious plan would see FIFA establish FIFA Forward Enterprise (FFE), a wholly-owned subsidiary consolidating the organisation's commercial and event operations.

FIFA said it would retain sole control as well as "exclusive authority" over football governance, competitions, the match calendar and all regulatory and sporting decisions.

Under the proposal, FIFA would invite external investors to purchase minority, non-controlling stakes in FFE to raise up to $4.2 billion, with the body saying all net benefits will be reinvested in the game.

"Football is the world's most popular sport and an extraordinary engine of human and social development," FIFA President Gianni Infantino said in a statement.

"Parts of the game have turned that popularity into remarkable commercial value – and we celebrate that success and want it to continue, because it lifts the whole game.

"Our job is to make sure the rest of football grows with it: FIFA exists to support sustainable, inclusive development in every corner of the world."

FIERCE CRITICISM FROM UEFA

However, the proposal has drawn fierce criticism from European soccer's governing body UEFA.

"This crosses a line that football's governing institutions should never cross," UEFA said in a statement.

"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