All 41 member associations of CONCACAF have rejected FIFA's proposal to sell a stake in the business operations of the World Cup, North and Central American football's governing body said Thursday.
But a statement issued following a meeting of CONCACAF presidents stopped short of joining the threat by European football's governing body UEFA to boycott the World Cup if FIFA presses ahead with its private investor plan.
"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," it said.
"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."
Earlier this week world governing body FIFA announced plans to create a commercial subsidiary which would run its biggest events, including the World Cup and Club World Cup.
This body would be open to minority private investment, under a plan president Gianni Infantino said would "turbocharge the development of the game globally" by raising up to $4.2 billion.
But the proposal was swiftly criticised by football groups and politicians around the world, including UEFA's threat to boycott future FIFA competitions.
CONCACAF represents Central America, the Caribbean and North America, and includes all three co-hosts of the recently concluded 2026 World Cup – the United States, Mexico and Canada.
It had already said it was "deeply concerned by the lack of due process," before Thursday's statement formally rejecting the FIFA proposal.
The new statement said its members would call on FIFA to "determine how existing vast FIFA reserves" could be used to boost football development across the region.
It also said they would call on Infantino "to ensure that any matter follows the proper governance processes via staff and FIFA Council, in accordance with the FIFA Statutes".
"Through these actions, CONCACAF reaffirms that football's future – and its greatest asset – must remain in the hands of our football family," it said.
The USA's football governing body wrote on social media: "US Soccer stands with CONCACAF and its members."