UEFA is threatening legal action against FIFA president Gianni Infantino following the collapse of his plan to sell a 20% stake in a $20 billion commercial entity that would have managed the governing body’s FIFA World Cup commercial rights.

In a letter sent to Infantino, UEFA said it is “actively considering legal action, arbitration and/or regulatory complaints” over FIFA’s proposal to raise more than $4 billion through the sale of shares in a newly created company that would hold FIFA’s commercial rights.

The plan, first revealed last week by the Financial Times, sent shockwaves through world football and triggered widespread criticism, ultimately forcing Infantino to abandon the proposal on Friday.

UEFA and several European national football associations were among the strongest critics of the plan, expressing a loss of confidence in FIFA’s leadership.

Infantino, who had appeared to be on course for an uncontested re-election as FIFA president next year, now finds himself in an even more vulnerable position following the controversy surrounding the World Cup.

The letter, dated July 31 and disclosed by The Telegraph, also instructs Infantino to “identify, locate and preserve all electronically stored documents and information” related to the creation of FIFA Forward Enterprise.

Thrive Eternal, an investment fund controlled by technology investor Joshua Kushner — the brother of Jared Kushner, son-in-law of U.S. President Donald Trump — was expected to be the lead investor in the proposed FIFA venture.

The Swiss-Italian FIFA president had argued that the funds raised through the transaction would be used to increase financial support for FIFA’s member associations.