Geneva, July 31 -- UEFA has opposed FIFA's proposal to sell stakes in a subsidiary managing the commercial rights to the World Cup and other major competitions, warning that its member association teams would withdraw from FIFA tournaments unless the plan is scrapped.
FIFA recently announced a plan to establish a commercial subsidiary, FIFA Forward Enterprise, to manage the commercial rights to major competitions, including the FIFA World Cup, with part of the company's equity to be sold to external investors.
FIFA said it would retain sole control of the subsidiary and exclusive authority over football governance, competitions, the international match calendar and all regulatory and sporting decisions.
It added that outside investors wo...