• World governing body set to raise millions from venture

• Uefa hits out at proposal and could take legal action

• Explainer: what Fifa’s plans mean and what happens next

Fifa has announced plans to sell the commercial rights to its tournaments, including the World Cup, to private investors in a controversial move that triggered an immediate backlash from Uefa, leading European clubs and politicians.

Uefa released a strongly worded statement accusing Fifa of “attempting to sell the soul of football” and is believed to be considering its legal position, while sources at numerous elite clubs were highly critical of the proposal in private. Andy Burnham, the UK’s new prime minister, condemned the move.