PARIS, France (AFP) — 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”.