FIFA plan for Kushner-backed $20 billion operation to run World Cup meets fury from Europe's UEFA

FIFA president Gianni Infantino's plan to create a $20 billion company running the World Cup with private investors including the Kushner family was announced Tuesday — and immediately attacked by European soccer body UEFA.

"It is not FIFA's to sell," UEFA said in a statement. "None of us are the owners of football."

Infantino's plans to form a commercial subsidiary, which would be called FIFA Forward Enterprise (FFE), running competitions like the World Cup and Club World Cup was first reported by The Times of London.

FIFA said in a statement FFE would raise up to $4.2 billion later this year to help fund development programs "based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests."

FIFA is working with J.P. Morgan while intended investors include Thrive Eternal launched by Joshua Kushner, whose brother Jared Kushner is a son-in-law of U.S. President Donald Trump.

The men's World Cup that finished this month only deepened the political and personal ties between Trump and Infantino, and fuelled concerns about those ties including from UEFA.

"The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially," UEFA said Tuesday, responding to the reports of selling stakes in FIFA competitions.

FIFA is currently a Swiss-based not-for-profit association of its 211 national member federations worldwide.

Those members must approve any plan and would get the chance "to access up to $20 million in one-off capital," FIFA said.

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"This is about the democratization of football worldwide," Infantino