UEFA have hit out at FIFA's plans to sell stakes linked to the World Cup to private investors.
On Tuesday, FIFA released a detailed statement outlining plans to launch a new commercial company as it targets $10bn-plus (£7.5bn) development funding.
FIFA says it could deliver more than $10bn in football development funding over the next four years through the creation of a new commercial subsidiary, subject to approval from its member associations.
FIFA Forward Enterprise (FFE), a FIFA-owned company, would bring together its commercial rights, including broadcasting, sponsorship, ticketing and licensing, alongside the operational delivery of FIFA tournaments.
Under the proposal, FIFA would raise up to $4.2bn (£3.1bn) from external investors through the sale of minority, non-controlling stakes in FFE, which it says would be valued at around $20bn (£15bn).
UEFA, opposing the proposal, said in a statement that the "soul and governance of football are not assets to trade".
"This crosses a line that football's governing institutions should never cross. UEFA takes it extremely seriously. So should every National Football Association.
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"So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
"The soul and governance of football are not assets to trade - especially with zero transparency as to who gains financially. None of us are the owners of football. It is not."
However, FIFA have since clarified details of its proposed new commercial structure following reports about plans to sell stakes linked to the World Cup.
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A spokesperson said it is beginning a consultation process after receiving a proposal that is currently under review.
FIFA confirmed to Sky Sports News that JP Morgan is acting as financial adviser on the project and will continue to support the analysis going forward.
Thrive Capital, whose chief executive is Josh Kushner, is expected to lead the proposed investor group. FIFA added that Jared Kushner is not an investor.
The governing body also stressed that any outside investors would only hold a minority stake and that the investment would be in a FIFA subsidiary rather than FIFA itself. FIFA said the president and administration have a duty to oversee the development of the project and maintain control throughout the process.
FIFA added that it is "inaccurate" to suggest staff have signed NDAs and said it is open to considering innovative projects that could help boost football development around the world.
FIFA president Gianni Infantino told all 211 member associations on July 18 that the priority following the success of the 2026 World Cup is to "unleash the commercial potential and opportunity that FIFA has".
Any proposal would need to be approved through FIFA's democratic structures.
FIFA said the plans will soon be presented to its member associations and the FIFA Council, who would be the sole decision-makers on whether to proceed.
FIFA also dismissed suggestions that Infantino could become chief executive of the new entity when his final term as president ends, saying such a move has "never been discussed".
However, FIFA said both the president and the administration would need to play leading roles in any new entity to ensure FIFA retains control of any subsidiary in line with its statutes and regulations and for the benefit of member associations.
FIFA insists it would retain sole control over football governance, competitions, the international match calendar and all sporting and regulatory decisions.
The additional funding would allow it to increase payments to its 211 member associations through its FIFA Forward programme, raising funding from the currently budgeted $8m to $20m per association for the 2027-2030 cycle, FIFA said.
Member associations could also access up to $20m in optional one-off funding for major projects through a new FIFA Fast Forward Programme.
Infantino said the proposal would help "democratise football worldwide" and ensure more of the game's commercial success is reinvested into development projects around the globe.
The plans will require the backing of a majority of FIFA's member associations, as well as approval from the FIFA Council, before they can be implemented.
"Football is the world's most popular sport and an extraordinary engine of human and social development," said Infantino.
"Parts of the game have turned that popularity into remarkable commercial value - and we celebrate that success and want it to continue, because it lifts the whole game. Our job is to make sure the rest of football grows with it: FIFA exists to support sustainable, inclusive development in every corner of the world.
"As its global governing body, FIFA is responsible for making sure the game reaches every corner of the world, and that the value it creates supports federations and communities everywhere.
"Our next stage of growth needs a structure built for it, one where the commercial side of the game operates as a focused, dedicated business, with its value shared more and better all around the world.
"Every FIFA Member Association should have an opportunity to seek a fair share of the available funding to shape its own future, deciding for itself rather than relying on others. This is about the democratisation of football worldwide.
"We intend to invest heavily even in the smallest or most remote parts of the footballing world, places that are too often passed over. Every FIFA Member Association, whatever its size, resources, or geographic location will have a voice and the opportunity to determine its own course. Football has become a truly global game and so the benefits must be felt globally."
FIFA is a not-for-profit organisation owned by the 211 associations that make up its membership. As an association of associations, it enjoys a tax-free status in Switzerland where it is based.
Its revenue for the 2022-26 cycle is expected to be $15bn (£112.8bn), the majority of which comes from TV rights, sponsorship and ticket and hospitality sales from the men's World Cup this summer.
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Sources: Sky Sports
