On Tuesday, FIFA confirmed its plans to sell a significant minority stake in a new entity that it is setting up to run its main events.

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.

The Union of European Football Associations (UEFA) has threatened to boycott all competitions organised by the Fédération Internationale de Football Association (FIFA), including…