Opposition is growing in the soccer world to a plan by the sport’s governing body, FIFA, to spin off its events as a commercial entity.

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 investment into a $20 billion entity that houses its commercial rights, including ticket sales and sponsorship to World Cup.

FIFA’s plan to bring on private investors raises concerns about influence and lacks transparency, experts say.