video Finance Videos

FIFA president steps down

Tuesday, June 02, 2015 - 02:16

FIFA president announces his resignation days after winning a fifth term as a top lieutenant is charged in a bribery scheme. Shartia Brantley reports.

▲ Hide Transcript

▶ View Transcript

Embattled FIFA president Sepp Blatter resigns just four days after winning his fifth term. This comes after prosecutors charged one of his top lieutenants in a $10 million bribery scheme. SOUNDBITE: SEPP BLATTER, PRESIDENT, FIFA, (ENGLISH) SAYING: "Although the members of FIFA have given me the new mandate and re-elected me as president, this mandate does not seem to be supported by everybody in the world of football… the supporters, clubs, players, those who inspire life in football, as much as we do at FIFA. This is why I will call an extraordinary congress and dispose of my function." Blatter stepping down came as a surprise since he won re-election by a large margin. SOUNDBITE: DOUG SIMON, PRESIDENT & CEO, D S SIMON PRODUCTIONS, (ENGLISH) SAYING: "I think a key turning point was that his top aide was implicated the scandal and the rule of thumb is always that the person one above the top level implicated has to go." Corporate sponsors have been vocal about the scandal involving the world's most popular sport, but are expected to hang in there. SOUNDBITE: DOUG SIMON, PRESIDENT & CEO, D S SIMON PRODUCTIONS, (ENGLISH) SAYING: "The key is if its perceived that that this actual cleanup is happening, it may actually be advantageous, advantageous situation for sponsors. One key concern for a sponsor, if you go out holier than thou we're stepping down there's someone right behind you ready to take that spot because of the popularity of soccer on a global basis." Simon says FIFA now needs to rise above the years of alleged corruption in soccer. SOUNDBITE: DOUG SIMON, PRESIDENT & CEO, D S SIMON PRODUCTIONS, (ENGLISH) SAYING: "The key is there's gotta be much more transparency in how they operate and they need elements who are credible from a global panel almost like a super jury to review the actions that are taken to make that nothing like this happens again. because it seemed to by systemic." Blatter says, he will remain in his role until new elections are held some time between December and March. ABC News reports, Blatter is being investigated by the FBI.