Sepp Blatter: FIFA Boss Resigns amidst Corruption Charges

Outgoing Fifa president Sepp Blatter is now part of the corruption probe by US prosecutors, according to reports by the New York Times, ABC News and Reuters.

Speaking at a news conference in Zurich, Blatter said he would remain in his position until a special election can be held to appoint his successor.

Domenico Scala, the chairman of FIFA's Audit and Compliance Committee, said an election would be held sometime between December 2015 and March 2016, during which time FIFA will vet candidates.

Blatter was just re-elected to a fifth term as president at the FIFA Congress on Friday, two days after a crisis erupted and seven officials were arrested in Zurich as part of a United States Justice Department corruption investigation. Blatter was not among the 14 officials indicted but ABC News reported on Tuesday he was a target of the probe.

A strained and serious Blatter read a six-minute statement in French to an audience of a small handful of journalists before exiting without taking questions.

"FIFA needs a profound overhaul," Blatter said, according to FIFA's translation. "While I have a mandate from the membership of FIFA, I do not feel that I have a mandate from the entire world of football -- the fans, the players, the clubs, the people who live, breathe and love football as much as we all do at FIFA.

"Therefore, I have decided to lay down my mandate [as president] at an extraordinary elective congress. I will continue to exercise my functions as FIFA president until that election."