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FIFA to hold presidential election on February 26

FIFA president Sepp Blatter: Revealed he would step down on Tuesday night
Image: Sepp Blatter - seven more months in charge

FIFA will hold its election for a new president on February 26 next year - meaning Sepp Blatter will hold power for seven more months.

The decision was taken by FIFA's executive committee on Monday. The move follows Blatter's decision to resign four days after being re-elected in May.

Candidates for the position will have to be nominated before October 26. UEFA president Michel Platini has emerged as the favourite after being urged to run by four of the six FIFA confederations.

Former Brazil great Zico and Liberia football federation president Musa Bility have said they will seek the five nominations required.

US justice authorities have indicted 18 people on football-related corruption charges while Swiss prosecutors have launched a separate investigation into bidding for the 2018 and 2022 World Cups being hosted by Russia and Qatar respectively.

Former FIFA executive committee member Chuck Blazer has pleaded guilty to corruption charges including accepting bribes to vote for South Africa to host the 2010 World Cup.

Blatter is due to hold a press conference at 2pm.

More to follow...