But a statement issued following a meeting of CONCACAF presidents stopped short of joining the threat by European football's governing body UEFA to boycott the World Cup if FIFA presses ahead with its private investor plan. "In addition, the need for private equity investment to fund new and existing FIFA Forward programs following the most profitable FIFA World Cup in history was questioned." Earlier this week world governing body FIFA announced plans to create a commercial subsidiary which would run its biggest events, including the World Cup and Club World Cup. It had already said it was "deeply concerned by the lack of due process," before Thursday's statement formally rejecting the FIFA proposal. The USA's football governing body wrote on social media: "U.S. Soccer stands with CONCACAF and its members."