The Confederation of African Football (CAF) has urged its member associations to examine FIFA’s controversial proposal to sell minority commercial interests in the FIFA World Cup and other competitions to private investors.

In a statement issued on Wednesday, CAF said its President, Dr. Patrice Motsepe, will convene a meeting of the CAF Executive Committee next week to evaluate the proposal and its implications for African football.

The continental body said its member associations would be able to participate in the consultation process in line with CAF and FIFA regulations.

FIFA this week unveiled plans to establish the FIFA Forward Enterprise (FFE), a commercial subsidiary that would manage the commercial operations of the FIFA World Cup and other tournaments.

Under the proposal, FIFA would retain majority ownership of the new entity while raising $4.2 billion by selling minority, non-controlling stakes to carefully selected long-term investors.

The proposal has sparked widespread debate across the global football community.

According to The Times of London, FIFA President Gianni Infantino could become commissioner of the new commercial entity after his expected final term ends in 2031. The report also claimed that potential investors include Joshua Kushner, brother-in-law of Ivanka Trump, and an investment arm of JPMorgan Chase.

The proposal has drawn criticism from several football stakeholders.

UEFA said the FIFA World Cup was “not an asset to trade,” while the European Union’s Commissioner for Sport, Glenn Micallef, urged FIFA to keep its “hands off our game.”

Football confederations in Europe, South America, North America and Asia have also expressed concerns, saying they were not consulted before the proposal was announced.

CAF, however, said consultations were ongoing with FIFA member associations and the FIFA Council.

The African football body reiterated its commitment to working with member associations, FIFA, other continental confederations and key stakeholders to increase financial resources for the development and growth of football across Africa and globally.

FIFA has reportedly informed its member associations that each could receive $40 million if they support the proposal. A leaked memo also indicated that associations have until September 19 to sign up if they wish to benefit from the proposed financial package.