Infantino defends FIFA investment plan amid mounting backlash

FIFA president Gianni Infantino said Wednesday that the proposed launch of a private subsidiary to expoit the commercial benefits of the World Cup was "an opportunity but not an obligation". In a video released amid a furious backlash to FIFA's controversial plans to sell stakes in FIFA's major competitions, Infantino argued that too little of football's commercial value reached the parts of the game that need it most. World football's governing body had said Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests". Various media outlets reported on Wednesday that Infantino had sent a letter to FIFA's member associations saying they will each receive $40 million if they back the plan -- but they must sign up by September 19. "FIFA Forward Enterprise, or FFE, is actually a proposal, an offer. It's part of a democratic process - a consultation process - and, above all, it is an opportunity but not an obligation," Infantino said in the video. "It is a golden opportunity to turbocharge the development of the game globally. B...