Zurich, July 31 -- FIFA has presented a clarification over plans to to sell stakes in its competitions to private investors by saying it plans to continue the consultation process.

The body, which overses world football, in its clarification on establishing the FIFA Forward Enterprise (FFE) on Friday said that it would "never entertain" the idea of selling football to private parties, and the initiative wants to ensure meaningful ownership of commercial opportunity in the sport to all member nations with the "spirit or the governance of FIFA or football itself" not being the cost of it.

FIFA had on Tuesday announced that it was seeking to launch FIFA Forward Enterprise to bring together the sale of FIFA's commercial rights, right from b...