FIFA announced on July 31 that it would not proceed with a plan to create a privately capitalized FIFA Forward Enterprise valued at US$20 billion to run events including the World Cup. The proposal, floated the preceding Tuesday, would have raised up to US$4.2 billion and delivered one-time US$20 million payments plus increased funding to each of FIFA's 211 member associations. UEFA, the AFC, and CONCACAF condemned the plan, and senior adviser Carlos Cordeiro resigned in opposition.