“Today’s meeting allowed us to observe a real interest for a complete reform of the Club World Cup and the development of a new model of competition that would benefit the entire football community around the world,” FIFA said.

The finances underpinning the project, though, may not produce the headline grabbing $25 billion windfall to FIFA that has been widely circulated.

In initial talks, the consortium that made the offer, which also includes the London-based investment firm Centricus Partners, said it would invest the maximum amount of money only if it hits its revenue targets over a series of four-year periods between 2021 and 2033. The investors would have the right to walk away at the end of each period if returns failed to match expectations.

On the other hand, the consortium, in which FIFA would hold a 51 percent stake, would have the right to renew its agreements in perpetuity at a rate of 120 percent of the previous agreements should the tournaments prove to be successful.

In the current proposal, the investors would guarantee FIFA $3 billion for each quadrennial Club World Cup. It will pay $2 billion for each edition of the biennial world league, with the exception of the first competition, which will produce a payment of only $1 billion.

In his letter sent to Infantino on behalf of UEFA, and copied to other European soccer officials, Ceferin raised several concerns about the concept, including the continued secrecy about the identities of those backing the fund. He also questioned the impact of the changes on soccer’s increasingly busy global calendar and the economics behind the offer. Significantly, Ceferin’s letter also warned FIFA against losing control of the sport to a commercial entity.

When Infantino first revealed the proposal at a FIFA board meeting in March, he said the deal had to be concluded in 60 days. But members refused to give him their backing, citing the mysterious nature of the offer and other concerns. The opposition has grown in the months since.