In an unexpected turn of events, Sepp Blatter announced on Tuesday that he will be quitting as FIFA president in the face of a corruption investigation that has plunged the game's governing body into the worst crisis in its history.

Blatter, 79, announced the decision at a hastily arranged news conference in Zurich, six days after the FBI raided a hotel in Zurich and arrested several FIFA officials and just four days after he was re-elected to a fifth term as president.

Blatter said an election to choose a new president for the deeply troubled organization would be held as soon as possible. A FIFA official said that could happen any time from December this year to March of next year.

"FIFA needs profound restructuring," said Blatter, a Swiss national who has been a dominating presence at FIFA for decades.

"I have thoroughly considered my presidency and thought about my presidency and the last 40 years of my life," Blatter, speaking in French, told the news conference.

"I decided to stand again to be elected because I was convinced it was the best option for football.

"Although the members of FIFA gave me a new mandate, this mandate does not seem to be supported by everyone in the world."

Blatter's decision was immediately welcomed by his most prominent critics.

European football federation chief Michel Platini, a French former international soccer star, said: "It was a difficult decision, a brave decision, and the right decision."

Greg Dyke, chairman of the English Football Association, said it was "good news for world football". He then asked: "Who got him? Who shot him? What happened between then (when he was elected) and now?" [Read more on Reuters]