FIFA plans to create a new commercial subsidiary valued at $20 billion (roughly €17.5 billion) and sell non-controlling minority stakes to investors, world football's governing body announced on Tuesday.
It called on its 211 member federations to back the plan, saying that if they voted in favor they "would benefit immediately from increased funding."
As soon as the news emerged, European football federation UEFA issued fierce criticism of the plan, saying it "crosses a line that football's governing institutions should never cross."
The push comes immediately after this summer's World Cup hosted primarily in the US, with FIFA listing a series of potential investors and advisors from the country. Infantino's close relationship with US President Donald Trump had already prompted criticism in some corners prior to Tuesday's announcement, which came a day after Infantino issued a fiery statement defending the tournament in the US and the controversies that accompanied it. Gianni Infantino has been a staunch defender of this summer's World Cup, even as his own role in it came under increased scrutinyImage: Eduardo Verdugo/AP Photo/picture alliance
What did FIFA say about the plan?
