England could miss out on three international tournaments in a row as the FA comes under mounting pressure to boycott the World Cup over Gianni Infantino's £15billion "sell-out".
Under the Fifa President's plans, a new entity would be established to control the world's premier men's and women's tournaments - encompassing the World Cup and Club World Cup.
Fifa would retain a controlling interest in the new company, while private investors would acquire a stake of between 20 and 30 per cent.
The proposals - unveiled just over a week after the 2026 World Cup came to an end - have been slammed by the FA and Andy Burnham, who branded them an "attempt to reshape football without regard for supporters or the wider game".
Despite the condemnation, the FA along with other national associations have submitted letters of support for Mr Infantino in recent months - but the governing body and Europe are now being urged to “walk the walk” by former executives and politicians.
On Thursday, 55 Uefa members are set to hold crisis talks over the plans - where an unprecedented European boycott of Fifa is expected to be tabled.
Uefa has urged every national association, league, club, player, supporter and government to treat the matter with the utmost seriousness, while a senior football figure described the plan as "potentially much worse" than the hated European Super League.
"The soul and governance of football are not assets to trade - especially with zero transparency as to who gains financially. None of us are the owners of football. It is not Fifa's to sell," the European body said.
Ex-FA chairman David Bernstein has said Mr Infantino's plans "stink" as he called for England's governing body to "have the guts” to boycott the World Cup.
He added: “The FA have to back that and we have to walk the walk."
A boycott from European sides would see mass withdrawals from the next three major Fifa tournaments - the 2027 Women’s World Cup, the 2029 Club World Cup and the 2030 men’s World Cup.
Mr Bernstein urged the FA to work alongside Uefa to push back against the private-investment scheme.
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He told The Telegraph: “Stating our position quite honestly is a proper thing to do, and I think will be appreciated by football fans in this country, but I think our main thrust should be alongside Uefa."
Meanwhile, former FA chief executive Mark Palios said Uefa has a "real card to play" and has the power to cause a "financial disaster" for Fifa.
He said: “If you don’t have Spain, France, England, Germany there, then it’s not going to be anything like the spectacle that it normally is.
"That’s the major card they have to play and I hope they do play that.”
On Tuesday, the FA appeared to suggest they had been blindsided by Fifa over the plans.
It said it was "deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved".
"When the proposal is shared in the full and transparent way now promised by Fifa, we will make our views clear, and comment further," the governing body added.
For a Uefa-wide boycott to be successfully implemented, all 55 members must unanimously agree to the emergency measure - which could prove difficult after the Czech Republic's FA chief appeared to endorse Mr Infantino's proposals.
The plans have also been slammed by Concacaf, which represents countries in North and Central America and the Caribbean, and the Asian Football Confederation.
However, the Confederation of African Football did not immediately hit out at the scheme, and called on its members to hold a consultation to “assess and evaluate the proposed Fifa Forward Enterprise".
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