Fifa has faced strong criticism from Concacaf, North America's football governing body, for its plan to sell stakes in the World Cup without prior consultation. Concacaf stated it learned of the proposal through media reports, expressing deep concern over the lack of due process.
The plan, announced on Tuesday, involves creating a $20bn subsidiary, FIFA Forward Enterprise, to manage the World Cup and other events. Fifa intends to offer up to 20% stakes in this new entity to external investors, aiming to raise up to $4.2bn.
Uefa also fiercely criticised the proposal, accusing Fifa president Gianni Infantino of putting the game's "soul" up for sale. Uefa officials are holding an emergency meeting this week to formulate a response. Britain's new Prime Minister, Andy Burnham, also weighed in, stating on social media that the World Cup is not a product to be sold.
Fifa maintains it would retain control of the enterprise and that the funds raised would establish an optional program for member associations to access capital for various football development initiatives. A Fifa spokesperson confirmed the proposal will be presented to the 211 member associations and the Fifa Council, who are the sole final decision-makers.