World governing body set to raise millions from ventureUefa hits out at sale of football ‘soul and governance’ Fifa has announced plans to sell a share of its commercial operations to private investors, a deal that would include the media and sponsorship rights of all its competitions, including the World Cup.The world governing body is working with the US bank JPMorgan on setting up a new entity – to be called Fifa Forward Enterprise (FFE) – that would raise hundreds of millions of dollars by selling a significant stake in the commercial rights of the men’s and women’s World Cups, and the Club World Cup to investors, with promises of “over $10bn” (£7.5bn) then being redistributed back to Fifa’s 211 member associations. Fifa confirmed the move on Tuesday afternoon after reports in the Financial Times and the Times. Continue reading...