FIFA president Sepp Blatter has said he will step down.
He has called an extraordinary congress “as soon as possible”, saying “a new president will be elected to follow me”.
Blatter told the news conference: “I will organise an extraordinary congress for a replacement for me as president. I will not stand.
“I am now free from the constraints of an election. I will be in a position to focus on profound reforms.
“For many years we have called for reforms. But these are not sufficient.
“I have thoroughly considered and thought about my presidency and the last 40 years in my life.
“These years were closely related to FIFA and the wonderful sport of football. I appreciate and love FIFA more than anything else.
“I only want to do the best for FIFA and my institution. I decided to stand again as the best option for football.
“The elections are closed but the challenges we face haven’t come to an end.”
Sepp Blatter is not under investigation by Swiss authorities, the attorney general in Bern has said.
Blatter's announcement comes after FIFA has admitted it paid US$10m destined for the South Africa World Cup to an account controlled by the disgraced former vice-president Jack Warner.
The payment followed a letter from the South African FA to FIFA secretary general Jerome Valcke.
Blatter has held the role of president for 17 years but has come under increasing pressure following recent revelations.