Pakistan, July 29 -- FIFA has unveiled a proposal to sell minority stakes in the FIFA World Cup and other major tournaments to private investors, a move that has sparked strong opposition from UEFA. Under the plan, football's world governing body would establish a new $20 billion subsidiary, FIFA Forward Enterprise, to manage the commercial rights of its flagship competitions. However, the proposal still requires approval from FIFA's 211 member associations before it can be implemented.

According to FIFA, the new entity would remain under its majority ownership while offering minority stakes to outside investors to raise up to $4.2 billion. The organisation said the investment group would be led by a vehicle founded by Joshua Kushner, th...