European football’s governing body, UEFA, has unanimously voted to boycott FIFA competitions, including the men’s and women’s World Cups, if FIFA approves President Gianni Infantino‘s proposal to sell a stake in the commercial rights of its flagship tournaments to private investors.

The threat marks a major escalation in the growing opposition to FIFA’s proposed FIFA Forward Enterprise (FFE), a new commercial subsidiary that would manage the governing body’s commercial assets, including broadcasting, sponsorship, licensing and ticketing rights.

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UEFA rejects World Cup commercialisation

Earlier this week, Infantino announced plans to create FIFA Forward Enterprise, a company valued at $20 billion, through which FIFA would sell minority, non-controlling stakes to outside investors.

The proposal seeks to raise $4.2 billion, with FIFA saying the funds would be used to generate more than $10 billion for football development over the next four years.

However, UEFA said the proposal crossed a red line, arguing that football’s biggest competitions should never become investment assets.

In a strongly worded statement issued after a meeting of its 55 member associations on Thursday, UEFA warned that it would withdraw from all FIFA competitions if the proposal receives approval from FIFA’s member associations.

“UEFA and its national associations will not participate in FIFA competitions,” the organisation said.

“The World Cup cannot be…