UEFA will hold an emergency meeting of its 55 members on Thursday to discuss plans, including a potential World Cup boycott, in response to FIFA's proposal to sell a stake in the tournament to private investors. FIFA president Gianni Infantino revealed the proposal on Tuesday to raise $20 billion from equity sales, saying it will "unleash the commercial potential and opportunity that FIFA has."

The proposal drew sharp criticism. UEFA accused FIFA of using the sport "to enrich themselves and their friends." La Liga president Javier Tebas called it "an election campaign financed by the future of football," while the English Football Association expressed deep concern about "the lack of process and governance."

Infantino defended the plan as a "golden opportunity to turbocharge the development of the game globally," arguing too little commercial value reaches where it's needed most. He set a Sept. 19 deadline for 211 member federations to approve the plan, which would give each nation up to $40 million in funding from an initial $10 billion package, compared to $2.7 billion if rejected.