FIFA President Gianni Infantino called the plan to sell stakes in the World Cup a proposal but 'not an obligation' after the idea provoked a furious response from some football authorities.
FIFA announced plans this week to create a $20 billion subsidiary to run the World Cup and its other events, and said it will offer stakes of up to 20% in it to external investors.
Also Read: FIFA's $20 billion PE plan sets up fresh Europe showdown
The proposal drew strong criticism from the sport's regional confederations, which said they were blindsided by the plan by world soccer's governing body to bring private investors into the sport.
But Infantino said strengthening the commercial side of the game is the natural next step in this evolution.
"It's part of a democratic process - a consultation process - and, above all, it is an opportunity but not an obligation, and, as I said, it kicks off the consultation process," Infantino said in a video provided by FIFA on Wednesday.
FIFA is one of the world's wealthiest sporting organisations, generating billions of dollars in revenue, largely from broadcasting rights, sponsorship and other commercial deals linked to the World Cup.
Also Read: FIFA World Cup 2026: The $13 billion business explained
Infantino insisted in his remarks that fans will remain the cornerstone of soccer and that FIFA will continue to govern football without any external interference.
"FIFA obviously continues to govern football without any external interference," said Infantino. "And the flagship tournament it organises, like the FIFA World Cup or the FIFA Women's World Cup, will always remain."
