The Asian Football Confederation said on Wednesday it was disappointed after FIFA confirmed plans to sell stakes in its major competitions, saying it was not consulted before the decision was made public.
The sport's world governing body announced proposals on Tuesday to set up a commercial subsidiary to run events, which would reportedly have links to the extended family of US President Donald Trump, according to British media reports.
"The AFC was not consulted on the proposal and is disappointed that a matter of such significance entered the public domain before the AFC family had been afforded the opportunity to examine and discuss it through the appropriate and established governance channels," the Asian confederation said in a statement.
"While the AFC recognises the importance of exploring innovative approaches that can strengthen the future of global football, initiatives of this scale and consequence must be founded upon the principles of good governance, transparency and meaningful consultation," the Kuala Lumpur-based body said.
FIFA's announcement produced a furious backlash from European football's governing body UEFA, which said the World Cup was not an "asset to trade".
England's Football Association (FA) also voiced major concerns.
The AFC, which represents 47 member nations, including Australia, China, Japan and Saudi Arabia, said it "firmly believed that all stakeholders should be provided with sufficient information and adequate time to assess the proposal in full".
FIFA said its subsidiary, FIFA Forward Enterprise (FFE), would seek "long‑term investors who will purchase minority, non‑controlling interests in FFE".
It said FIFA would retain sole control of FFE and "exclusive authority over football governance, competitions, the match calendar, and all regulatory and sporting decisions".