FIFA issued an early-hours statement on Friday defending its controversial proposal to open stakes in its competitions to private investors, even as the threat of a mass boycott by member federations continued to gather pace.

The governing body confirmed it would press ahead with its consultation process, pushing back against criticism from UEFA, CONCACAF, and the Asian Football Confederation — all of which have publicly opposed the plan.

What FIFA Forward Enterprise would mean

The proposal in question would see the creation of FIFA Forward Enterprise (FFE), a structure designed to allow private investors to purchase stakes in FIFA competitions, including the FIFA World Cup. Under the plan, each member association that accepts the proposal before a September 19 deadline would receive $20 million (£14.9 million) on January 1.

The initiative emerged into the public domain earlier this week, triggering swift and fierce opposition. UEFA and CONCACAF both announced that their member federations would unanimously boycott FIFA competitions should the plans move forward. The Asian Football Confederation added its voice to the dissent on Friday morning — a development that pushed the opposing bloc beyond the 50 percent of member federations required to block the proposal in a formal vote.

FIFA's 4am response

Despite the mounting opposition, FIFA released a statement at 4am UK time insisting the consultation process would continue as planned. The governing body argued that media reports had distorted the proposal and that each of the 211 member associations deserved the chance to review the plan independently.