European football’s governing body Uefa has reacted furiously to proposals from Fifa to seek private investment in its competitions, including the World Cup.

Fifa – the sport’s global governing body – said it intends to expand football development funding to more than $10bn (£7.5bn), which it claims is to grow the game – subject to approval by its member associations.

The story was first reported in the Financial Times and the Times, with the latter claiming the plans could potentially earn Fifa president Gianni Infantino tens of millions of pounds.

“This crosses a line that football’s governing institutions should never cross,” Uefa said in a statement in response to those reports.

“None of us are the owners of football. [The World Cup] is not Fifa’s to sell.”