FIFA hit by furious backlash over plans to sell stake in competitions

There was a furious backlash on Wednesday to FIFA's controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a private subsidiary. FRANCE 24's James Vasina reports.

Furious European Commissioner for Sport, Glenn Micallef, has vowed that the EC will investigate Fifa’s controversial proposals to sell stakes in a new commercial entity to outside investors.  Football’s world governing body on Monday revealed plans to raise $4bn by selling minority holdings in a new vehicle, Fifa Forwa

Tuesday’s announcement produced a furious response from UEFA.

The Football Association has said it is "deeply concerned" by FIFA's plan to sell stakes in its competitions.

Fifa is working with bankers at JPMorgan to raise billions ⁠of dollars by bringing ​in ⁠external investors to take as much as a 20 per cent stake in the entity