The Confederation of North, Central America and Caribbean Association Football (Concacaf) has formally rejected FIFA’s proposal to sell stakes in the FIFA World Cup to private investors, becoming the latest football governing body to oppose the plan.

The decision was reached after representatives of all 41 Concacaf member associations met on Thursday to deliberate on the proposal, exposing growing unease among member nations over FIFA’s leadership under president Gianni Infantino.

A source familiar with the discussions revealed that many delegates felt they were “losing confidence, or have lost confidence altogether” in Infantino. Another individual with knowledge of the meeting acknowledged widespread concerns regarding FIFA’s current leadership style, governance, and transparency.

Following the deliberations, Concacaf issued an official statement confirming that its full membership had voted against the commercial plan. The rejection follows a similar stance by European football’s governing body, UEFA, which recently announced that its 55 member associations would boycott FIFA competitions if the plan moves forward.

Explaining its official position, Concacaf stated:

“During the meeting, the membership expressed deep concerns about the lack of due process surrounding the proposal, the artificially short deadline imposed, and the absence of any review or approval by the relevant FIFA governance bodies. In addition, the need for private equity investment to fund new and existing FIFA Forward programs following the most profitable FIFA World Cup in history was questioned.

“The discussion reinforced the need for greater transparency and proper governance.

“For these reasons, Concacaf and its 41 Member Associations have: Rejected the proposal.”

FIFA has maintained that the proposal aims to establish a FIFA-owned commercial subsidiary to attract long-term capital and commercial expertise while keeping full ownership, control, and governance of the World Cup with FIFA.