FIFA has insisted that “nobody is selling football” as it pledged to continue consulting members over its controversial proposal to allow private investors to buy stakes in its competitions.

The plan has faced strong opposition from football’s regional governing bodies. UEFA, which oversees European football, voted on Thursday to boycott future World Cups if the proposal moves forward. Concacaf, the governing body for North and Central America and the Caribbean, also announced that its 41 member associations had rejected the plan put forward by FIFA president Gianni Infantino.

FIFA has 211 member associations, and the proposal would require the support of at least 106 to pass. Together, UEFA and Concacaf represent 96 votes, making their opposition a significant obstacle.

In a statement released on Friday, FIFA said the consultation process had been affected by “incorrect media reports” but stressed that it remained committed to an open and democratic discussion.

“We respect the feedback and concerns expressed publicly and remain committed to an open and democratic consultation,” the statement said. “We will continue this process to ensure every member association can cast its vote based on the facts.

“Nobody is selling football. This is not something FIFA would ever entertain.”