World Cup: Uefa angered by FIFA’s plans for private investment in the tournament

European soccer’s governing body Uefa has reacted angrily to FIFA’s proposal for private investment in tournaments, including the World Cup.

FIFA – the sport’s global governing body – said it intended to expand its “football development fund” to more than $10bn (£7.5bn) and invite third-party investment in new projects.

The story was first reported in the Financial Times and The Times, the latter of which said the plans could cost FIFA president Gianni Infantino tens of millions of pounds.

In a lengthy statement outlining its proposals, FIFA said it would invite “third parties to make minority and non-controlling investments” in a new subsidiary – FIFA Forward Enterprise (FFE) – to “strengthen” commercial and event operations.

The plan still needs to be approved by a vote of FIFA’s 211 member states. But if given the go-ahead, FIFA said Thrive Eternal is expected to lead the proposed investor group for the FFE.

Thrive is an American venture capital firm founded by Joshua Kushner, the brother of President Donald Trump’s son-in-law Jared.

Fifa sources told BBC Sport there had been no discussions about Infantino or anyone else becoming FFE chief executive.

In a statement, FIFA said Infantino and the rest of the organization had an obligation to oversee the development of the project. FIFA has not said exactly what that means or what Infantino’s specific involvement will be.

All member associations can access up to $20m (£15m) in “one-off capital” to support development, according to one FIFA body.

Infantino said that every country should benefit from the wealth that football creates.

“Parts of the game have turned that popularity into incredible commercial value – and we respect that success and want it to continue, because it lifts the whole game,” he said.

“Our job is to ensure that the rest of football grows together. FIFA exists to support sustainable and inclusive development in all corners of the world.”

However, UEFA issued a statement opposing the proposals, saying “a line will be crossed”.

The FA said it was unaware of FIFA’s plans when they were released.