New Delhi, July 29 -- FIFA has announced plans to sell a minority stake in the World Cup's commercial rights. Critics say this would turn the tournament into an investment asset. They warn it could fundamentally damage the spirit of the game.

On 28 July, FIFA revealed that it would create a $20 billion ( Rs.1.91 lakh crore) subsidiary. This new entity will house its commercial and event operations. External investors may buy up to 20% of the subsidiary.

FIFA claims this could raise up to $4.2 billion ( Rs.40,215 crore). That money would reportedly fund football development programmes worldwide. FIFA insists it would retain sole control of the enterprise. It says it would keep "exclusive authority" over competitions and governance.

FIFA...