FIFA says it hopes to sell $4.2bn stake in its tournaments

FIFA said Tuesday it plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a semi-private subsidiary. World football’s governing body said 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”. FIFA’s statement was a rapid response to a story in British newspaper The Times base...