ZURICH, July 29 (Reuters) – Former FIFA President Sepp Blatter on Wednesday slammed the football governing body’s plans to create a $20 billion subsidiary to run the World Cup, saying the tournament was not a commercial asset that belonged to a few executives.
“Football belongs to no individual and to no institution. It belongs to the people,” Blatter told Reuters.
“If FIFA were transferred into a profit-oriented corporate structure, it would lose its soul,” added Blatter, who was FIFA president for 17 years until 2015.
(Reporting by John RevillEditing by Dave Graham)
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