The International Football Association Board (FIFA) writes in a press release that it wants to create a new subsidiary that will "collect and operate all of FIFA's commercial rights" for the main men's and women's tournaments, such as the World Cup and the Club World Cup, the association writes.
The major bank JP Morgan has been tasked with attracting external investors to buy an ownership stake of around 20 percent, according to information provided to the Financial Times and the British The Times.
Sources within FIFA confirm to The Times that a company run by Joshua Kushner - brother of US President Donald Trump's son-in-law - is expected to lead the process.
"In full respect of FIFA's democratic principles, the launch of this new structure is dependent on the support of a majority of member associations as well as the relevant approvals from the FIFA Council," the federation wrote.
Millions to Infantino
A further 20 percent of the company would be owned by FIFA's 211 member associations, while FIFA itself would retain the majority, The Times reports. Such an arrangement could mean a windfall for FIFA president Gianni Infantino of the equivalent of SEK 620 million, according to the newspaper.
According to The Times, the individual associations will be able to sell their shares.
"Parts of the sport have transformed that popularity into remarkable commercial value - and we celebrate that success and want it to continue, as it elevates the whole sport," Infantino said in a statement.
"Nobody owns football"
A similar business arrangement has previously been implemented by, among others, the Spanish and French football leagues.
The European Football Association (Uefa) is furious about Fifa's plan.
"The soul and governance of football are not assets that can be sold or traded away - especially not when there is a total lack of transparency about who benefits financially from it. None of us own football. It is not FIFA's to sell," UEFA wrote in a press release.
