France, July 31 -- Fifa wants to create a €17 billion subsidiary, Fifa Forward Enterprise (FFE), and give a 20 percent stake in the operation to external investors.

European football's ruling organisation Uefa has led the protests against the proposal, accusing Fifa of putting the sport up for sale.

On Thursday, Uefa's 55 member nations voted unanimously to boycott all Fifa tournaments - including the World Cup - if Fifa continues to promote its plans.

"We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation," Fifa said in a statement.

"Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure ...