MOSCOW, July 30. /TASS/. /TASS/. The creation of FIFA Forward Enterprise, which is set to become a subsidiary of the world’s governing football body, FIFA, will boost the profits of FIFA member associations and contribute to the development of football worldwide, FIFA President Gianni Infantino said on Thursday.

"FIFA Forward Enterprise is a proposal, an opportunity and part of a democratic consultation process with the 211 FIFA Member Associations and the FIFA Council," Infantino stated on his page on Instagram (banned in Russia as it’s owned by Meta Corporation, which is designated as an extremist organization in Russia).

"If approved, it would become a FIFA-owned and controlled subsidiary, consolidating FIFA’s commercial and event operations by commercializing and organizing all FIFA-owned competitions, along with sponsorship, broadcast, licensing and new ventures, for the benefit of FIFA Member Associations, unlocking previously uncaptured commercial value," the FIFA chief continued.

"Strengthening the commercial side of the game is the natural next step in FIFA’s evolution after a decade of governance reforms and expanded development. Through the FIFA Forward Program, funding would increase from $8 million to $20 million per FIFA Member Association, with the option to access a further $20 million through the new FIFA Fast Forward Program," Infantino noted.

"This is a golden opportunity to turbocharge football development around the world. But it is simply an offer, not an obligation. The choice belongs to our FIFA Member Associations, and we are here to discuss it with everyone," the FIFA president added.

The Times daily reported earlier that Infantino planned to sell a share of the World Cup commercial rights to private investors under a scheme that could potentially bring him tens of millions of pounds. The plan involves the establishment of a company that will control the major men's and women's FIFA tournaments - the FIFA World Cup and the FIFA Club World Cup. The daily noted that the organization consulted with people close to the administration of US President Donald Trump.