CONCACAF said on Wednesday it was "deeply concerned by the lack of due process" in FIFA's plans to sell a stake in the business operations of the World Cup and other competitions.
World football's governing body said on Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests".
CONCACAF, Central and North American football's governing body – which includes the three co-hosts of the World Cup, USA, Canada and Mexico – joined its European counterpart UEFA in criticising the move.
"CONCACAF was only made aware of this matter through media reports and, subsequently, via a media release," it said in a statement.
"We are deeply concerned by the lack of due process.
"We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place.
"As leaders within football, we are the custodians of the game... Every decision we make must be guided by good governance, robust processes and long-term stewardship."
UK newspaper The Times reported that FIFA president Gianni Infantino, 56, stood to profit from the scheme by becoming commissioner of the FFE after his expected next term expires in 2031. FIFA denied that this had been discussed.
The Times also said discussion had started with financial advisors and potential investors.
Those include Thrive capital, an investment company founded and led by Joshua Kushner, brother of US President Donald Trump's son-in-law Jared, as well as an arm of JP Morgan Chase, the US bank that attempted to finance the failed breakaway European Super League.
The plan would still have to be approved by the 38-member FIFA council and the majority of the member associations. FIFA said it intends to present the plans to the council soon.
UEFA, which has been critical of Infantino, said FIFA's plan "crosses a line that that football's governing institutions should never cross".