Fifa has announced plans to sell a share of its commercial operations to private investors, a deal that would include the media and sponsorship rights of the World Cup

FIFA confirmed plans to raise $4.2 billion for a new entity controlling the nonprofit’s “commercial and event operations” at a $20 billion equity valuation.

FIFA plans to sell a minority stake in a new commercial entity valued at roughly $20 billion, packaging its sponsorships and media rights for

“The soul and governance of football are not assets to trade," UEFA said in a statement.