Carlos Cordeiro resigned with immediate effect, calling the plan "a bad deal for football".

Cordeiro, who was appointed in 2021 by Infantino to help shape FIFA's future, said the body was "mortgaging football's future without any compelling justification.

"It is a bad deal for FIFA's Member Associations, a bad deal for football, and a bad deal for the long-term future of the game," Cordeiro said.

A former banker and ex-United States Soccer Federation vice president, Cordeiro added that he had no involvement in the proposal and opposed it "unequivocally".

Meanwhile, FIFA's Chief Operating Officer Kevin Lamour said staff were "deceived" by Infantino, describing the proposal as a "project of one person".

"Our mission ... is to serve football. Not to serve the personal interests of a person who, unfortunately, believes he embodies FIFA when he is supposed to be at its service," he wrote in a statement shared with the Associated Press.

Despite the mounting opposition, Switzerland-based FIFA claimed in a press release "incorrect media reports" this week had disrupted its planned consultation process but that it would press on with putting the proposal in front of its 211 national football associations.

"We will proceed with this consultation process to ensure that each MA [Member Association] has the ability to express its vote based on facts," a statement read.

FIFA has proposed creating a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to run the FIFA World Cup and its other events, with a stake of up to 20 per cent to be offered to external investors.

Thrive Eternal, a fund run by Thrive Capital, founded by Joshua Kushner, was expected to lead the proposed investor group, FIFA revealed. Joshua is the brother of Jared Kushner, US President Donald Trump's son-in-law.

Trump, however, said he did not speak with Infantino about FIFA offering stakes to external investors despite having a close relationship after the US co-hosted the 2026 FIFA World Cup.

British Prime Minister Andy Burnham, who was critical of FIFA's plan when it was announced earlier this week, told reporters on Friday that Infantino was "the wrong man to lead the organisation [FIFA]".

Infantino, 56, is up for re-election next year and North American football chief Victor Montagliani is reportedly looking to challenge him for the FIFA presidency.

European football's governing body, UEFA, has led the widespread opposition to the proposal, accusing FIFA of putting the sport's "soul" up for sale.

UEFA's 55 member nations voted unanimously to boycott all FIFA tournaments, less than two weeks after Spain was crowned world champion.

FIFA's next major event is the Women's Under-20 FIFA World Cup in September. Host Poland has not yet received any information about the potential withdrawal of any team from that tournament.

"Nobody is selling football. This is not something FIFA would ever entertain," FIFA's statement read.

"Everyone has the right to express their opposition and to seek further clarification but no single entity can claim to represent all 211 MAs [Member Associations] around the world.

"Each MA should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of FIFA."

CONCACAF, the regional federation for North America, Central America and the Caribbean, rejected the proposal during a meeting on Friday (AEST) but the 41-member body did not follow UEFA with a boycott threat.

The Asian Football Confederation, which has 47 members including Australia, issued a statement on Friday saying it "stands in solidarity" with UEFA and CONCACAF, but also stopped short of threatening a boycott.

The AFC, which has not historically been as frequent or vehement a critic of FIFA as its European counterpart UEFA, questioned the viability of the proposal and raised doubts about FIFA's decision-making processes in a thinly veiled attack on Infantino.

Stuart Dykes, the director of European and Institutional Affairs at Football Supporters Europe, said such decisions could not be taken behind closed doors by a small group of people.

"The national associations should be demanding proper governance, proper consultation, proper stakeholder involvement," Dykes said.

"Football is not for sale. It's a social good. Its value is created by the fans and the players ... That value is not for FIFA to extract in the interest of private investors."

Infantino said in a letter to all member associations that they would receive $40 million each if they agreed to FIFA's proposal by 20 September (AEST).

On Friday, FIFA announced it would not go ahead with the plan without the support of the majority of its member associations.

"These principles underpin the FFE proposal: unprecedented development funding, truly global ownership of the commercial opportunities of our sport, and full self-determination through a democratic process for all MAs," FIFA's statement read.

UEFA, CONCACAF and the AFC combined have 143 associations, well over half of FIFA's 211 members.

However, not all individual member nations would be certain to follow their federation's line.

The Czech FA's President David Trunda said he could see the "positive impact of FIFA's intentions", but it has since rejected the proposal while endorsing UEFA's stance.

The Mexican Football Federation said it would study the proposal before deciding its position, despite CONCACAF's rejection.

Football Australia took a similar position and has not yet formalised its response to the FIFA proposal.