UEFA has expressed reservations about FIFA’s plan to create a commercial company that would manage the commercial rights of major competitions, including the World Cup. The organization believes that the initiative requires more clarity in terms of governance and transparency, reports IPN.

In a press release, UEFA stated that it is analyzing the proposal and that it must be examined by the national federations as well. The European body mentioned that the project raises questions about the management of the new structure and the distribution of financial benefits.

The reaction comes after FIFA announced its intention to establish FIFA Forward Enterprise (FFE), a subsidiary that would manage commercial activities and the organization of major competitions, including the World Cup and the Club World Cup.

FIFA intends to attract approximately 4.2 billion dollars by selling a minority stake of up to 20% to private investors. According to the organization, the funds will be used for the development of football, and FIFA will retain control over governance, competitions, and sporting decisions.

According to the British press, UEFA is expected to discuss the project with its 55 member federations at the end of this week, to establish a common position. Reservations about the initiative have also been expressed by the English Football Federation, CONCACAF, and the Asian Football Confederation, which have called for consultations and a transparent decision-making process.