The Confederation of African Football (CAF) has said it will review FIFA’s proposed FIFA Forward Enterprise initiative, a plan that could see the global football governing body raise billions of dollars through the sale of minority stakes in its commercial operations. CAF disclosed in a statement on Wednesday that it had received correspondence from FIFA regarding the proposal as part of an ongoing consultation process involving FIFA member associations and the FIFA Council.

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 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