FIFA said on Friday (July 31) it would move forward with its consultation process to bring private investment into the World Cup and its other tournaments in defiance of a fierce UEFA-led backlash against the proposal.

The world soccer governing body on Tuesday (July 28) announced it planned to create a $20 billion subsidiary to run the World Cup and its other events, offering external investors stakes of up to 20%.

Under the plan, FIFA would establish FIFA Forward Enterprise to oversee commercial and event operations.

The proposal drew strong criticism from regional confederations, which said they had been blind-sided by the plan to bring private investors into the sport.

"⁠Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA (Member Association) has the ability to express its vote based on facts," FIFA said in a statement.

European soccer's governing body UEFA, which accused FIFA of putting the sport's "soul" up for sale, on Thursday (July 30) voted to boycott all FIFA tournaments, along with its 55 member nations.

"Nobody is selling football. This is not something FIFA would ever entertain," FIFA said.

"Everyone has the right to express their opposition and to seek further clarification but no single entity can claim to represent all 211 MAs around the world.

"Each MA should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of FIFA."

DESCRIPCIÓN DE IMÁGENES

1. VARIOUS SCREENSHOTS OF FIFA STATEMENT CLARIFYING THE FIFA PROPOSAL

EAST RUTHERFORD, NEW JERSEY, UNITED STATES (ARCHIVE - JULY 19, 2026) (U.S. NETWORK POOL - No use USA)

2. FIFA PRESIDENT, GIANNI INFANTINO, STANDING WITH U.S. PRESIDENT, DONALD TRUMP, AND MEXICO PRESIDENT, CLAUDIA SHEINBAUM, AT WORLD CUP FINAL AWARD CEREMONY

3. INFANTINO AND TRUMP PRESENTING MEDALS TO SPANISH PLAYERS

4. INFANTINO AND TRUMP SHAKING HANDS WITH, PUTTING MEDAL ON SPAIN FORWARD, LAMINE YAMAL (NUMBER 19)

5. INFANTINO AND TRUMP PRESENTING WORLD CUP TROPHY TO SPAIN CAPTAIN, RODRI

6. SPAIN FOOTBALL TEAM LIFTING TROPHY, CHEERING

FOXBOROUGH, MASSACHUSETTS, UNITED STATES (ARCHIVE - JUNE 19, 2026) (REUTERS - Access all)

7. VARIOUS OF INFANTINO OUTSIDE GILLETTE STADIUM AHEAD OF WORLD CUP MATCH BETWEEN MOROCCO AND SCOTLAND

VANCOUVER, CANADA (ARCHIVE - APRIL 29, 2026) (REUTERS - Access all)

8. INFANTINO HOLDING FLAG AND POSING FOR PHOTOS WITH FORMER FOOTBALL PLAYERS INCLUDING MARCO MATERAZZI AND MAICON AHEAD OF FIFA DELEGATES SOCCER TOURNAMENT

WASHINGTON, D.C., UNITED STATES (ARCHIVE - AUGUST 22, 2025) (UNRESTRICTED POOL - Access all)

9. INFANTINO HANDING TRUMP THE WORLD CUP TROPHY IN THE OVAL OFFICE

10. INFANTINO GIVING TRUMP A BLOWN-UP WORLD CUP FINAL TICKET

ZURICH, SWITZERLAND (ARCHIVE - OCTOBER 2, 2025) (REUTERS - Access all)

11. VARIOUS EXTERIORS OF FIFA HEADQUARTERS

BRUSSELS, BELGIUM (ARCHIVE - FEBRUARY 12, 2026) (REUTERS - Access all)

12. INFANTINO POSING WITH UEFA PRESIDENT, ALEKSANDER CEFERIN, AT UEFA 50TH ORDINARY CONGRESS

NYON, SWITZERLAND (ARCHIVE - MARCH 4, 2016) (REUTERS - Access all)

13. UEFA LOGO ON WALL AT HEADQUARTERS

NYON, SWITZERLAND (ARCHIVE - DECEMBER 4, 2019) (REUTERS - Access all)

14. VARIOUS OF FLAGS OUTSIDE UEFA HEADQUARTERS