FIFA's leadership would like to make sure everyone understands how it plans to sell off part of the World Cup.

Fifa's plan was to raise up to $4.2 billion by selling about a 20 per cent stake in a new unit that would run Fifa events, including the World Cup

FIFA President Gianni Infantino said his proposal "will not proceed" after UEFA — the European football association that includes powerhouses such as Spain, France, England and Germany — unanimously threatened to boycott all FIFA competitions going forward.

The pressure is rising on FIFA President Gianni Infantino to ditch a $20 billion privatization plan, but soccer's governing body is doubling down and criticizing the media.

Concacaf, the soccer confederation of North, Central America and the Caribbean, says it rejects FIFA’s plans to sell stakes in the World Cup to private investors. All 41 members of Concacaf met on Thursday to discuss the proposals.

As pressure mounted on FIFA President Gianni Infantino and his plan to sell World Cup profits to private equity, the organization canceled the project.

The moves by the two most important national confederations in the sport have put not only this plan in jeopardy, but also Infantino's coming bid for a fourth term as president.