UEFA condemned FIFA's plan to invite private investment in its competitions, saying proposals to sell minority stakes in a new commercial arm "crosses a line" and that "the soul and governance of football are not assets to trade." FIFA says it wants to expand "football development funding" to more than $10bn and create FIFA Forward Enterprise, a subsidiary that would accept minority, non-controlling investments and consolidate commercial and event operations. The Financial Times and the Times reported the scheme, with the Times saying it could potentially earn FIFA president Gianni Infantino tens of millions of pounds. FIFA says all 211 member associations would vote on the plan and that each could access up to $20m in one-off capital for development if the proposal goes ahead. FIFA named Thrive Eternal, an American venture capital firm founded by Joshua Kushner, as expected lead of the investor group; the organisation says it would retain control of FFE and exclusive authority over governance, competitions, the international match calendar and regulatory decisions. The Football Association said it was unaware of the plans when they were released. The matter is likely to be discussed at the next FIFA Council meeting in the autumn and around the FIFA Intercontinental Cup in December.
