FIFA defended its proposed World Cup private equity venture Friday, stating "nobody is selling football" after widespread criticism. The governing body blamed "erroneous reporting" for public outcry over its plan to sell stakes in the tournament to private equity investors through the FIFA Forward Enterprise (FFE), a $20 billion subsidiary 20% owned by private investors including a firm created by Joshua Kushner.

FIFA president Gianni Infantino offered $20 million to each of 211 member associations if they approve FFE by mid-September, projecting $86 million each through 2038. However, UEFA and its 55 European nations agreed Thursday to boycott all FIFA competitions, declaring "The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale."

Concacaf's 41 members also rejected the plan, citing "lack of due process" and questioning the need for outside investment after "the most profitable FIFA World Cup in history." Asian Football Confederation president Sheikh Salman bin Ibrahim Al Khalifa warned the unilateral actions "undermine the very foundations of continental football." The next FIFA tournament, the Women's Under-20 World Cup in Poland, begins Sept. 5.