The backlash against the head of world soccer's ruling body has intensified following his failed plan to sell a stake in the World Cup to private investors.

FIFA's proposal to unlock up to $4.2 billion from private investors by selling a roughly 20% stake in a new entity overseeing competitions including the World Cup ended in retreat on Friday after fierce resistance from stakeholders.

"The Football Association of Serbia has withdrawn its support for Gianni Infantino for a new term as President of FIFA," the federation said in a statement.

"We remind that we provided Mr. Infantino with our support on May 25 of this year in written form, but after carefully reviewing the events that, in the recent period, have seriously damaged the image and reputation of both FIFA and its President, this is the only logical and rational decision."

Sweden followed suit.

"At an extraordinary board meeting on Monday, SvFF has chosen not to support FIFA President Gianni Infantino in the upcoming re-election," the Swedish federation said.

"This is after a long-term assessment of the development within FIFA and the organization's leadership. The decision is based on recurring shortcomings in governance, transparency and management, which means that trust in Gianni Infantino's leadership no longer exists."

Earlier, Wales became the first national federation to formally withdraw its support for Infantino.