Football governing bodies hit out at plans to sell World Cup stakes; FIFA insist proposal is not an ‘obligation’.

FIFA President Gianni ⁠Infantino has called ⁠the plan to sell stakes in the World Cup a proposal but “not an obligation”, after the idea ⁠provoked a furious response from a number of football authorities.

FIFA announced plans this week to create a $20bn subsidiary to run ⁠the World Cup and its other events, and said it will offer stakes of up to 20% in it to external investors.

The proposal drew strong criticism from the sport’s regional confederations, ‌which said they were blindsided by the plan by world football’s governing body to bring private investors into the sport.

But Infantino said strengthening the commercial side of the game is the natural next step in this evolution.

“It’s part of a democratic process – a consultation process – and, above ⁠all, it is an opportunity but not ⁠an obligation, and, as I said, it kicks off the consultation process,” Infantino said in a video provided by FIFA on Wednesday.

FIFA is one ⁠of the world’s wealthiest sporting organisations, generating billions of dollars in revenue, largely from ⁠broadcasting rights, sponsorship and other commercial deals ⁠linked to the World Cup.

Infantino insisted in his remarks that fans will remain the cornerstone of football and said, “FIFA obviously continues to govern football without any external interference.

“And the flagship tournament it ‌organises, ‌like the FIFA World Cup or the FIFA Women’s World Cup, will always remain.”