India, July 28 -- Gianni Infantino's grand financial vision for football has triggered an extraordinary backlash from UEFA, which has accused FIFA of crossing a dangerous line.

On Tuesday, football's global governing body announced plans to create a new commercial subsidiary valued at $20 billion and is seeking approval from all 211 of its member associations. Under the proposal, FIFA would establish the FIFA Forward Enterprise (FFE), a wholly owned subsidiary that would bring together the organisation's commercial and event operations, while FIFA retains "exclusive authority" over football governance, competitions, the international match calendar, and all regulatory and sporting decisions.

As part of the plan, FIFA would invite extern...