Pakistan, July 31 -- FIFA has confirmed it will continue consulting its member associations on a proposed private investment plan despite strong opposition from football organizations across the world. The governing body said the process would remain open and democratic, stressing that no final decision has been made. It also rejected claims that it intends to sell the FIFA World Cup, insisting that football's biggest tournament will remain under its control.

The proposal would create the FIFA Forward Enterprise, a commercial company responsible for managing events such as the FIFA World Cup and Club World Cup. FIFA believes the initiative could raise up to $4.2 billion based on a $20 billion valuation. If approved, each of FIFA's 211 me...