FIFA bans Blatter, Platini from soccer-related activities for 8 years

ZURICH -- FIFA's ethics committee banned Sepp Blatter and Michel Platini for eight years from all soccer-related activities in verdicts announced Monday. Blatter said he would appeal the 8-year ban to the Court of Arbitration for Sport, while Platini called it a "true mockery."

Platini's bid to succeed Blatter as FIFA president in a February 26 election is now likely ended.

"I'm sorry that I am, as president of FIFA, this punching ball and I'm sorry for football," Blatter said in a news conference.

Ethics judges ruled that Blatter broke FIFA Code of Ethics rules on conflicts of interest, breach of loyalty and offering gifts.

Platini broke rules on conflict of interest and loyalty.

Both denied wrongdoing in 2011 when Platini took $2 million of FIFA money approved by Blatter as uncontracted salary for work as a presidential adviser from 1999 to 2002.

Blatter was fined $50,250, and Platini was fined $80,400.

"Neither in his written statement nor in his personal hearing was Mr. Blatter able to demonstrate another legal basis for this payment," the judges said. "By failing to place FIFA's interests first and abstain from doing anything which could be contrary to FIFA's interests, Mr. Blatter violated his fiduciary duty to FIFA.

"Mr. Platini failed to act with complete credibility and integrity, showing unawareness of the importance of his duties and concomitant obligations and responsibilities," the judges said.

And things could get worse for Blatter and many other FIFA officials, CBS News correspondent Mark Phillips reports. In May, there were a series of FBI triggered arrests in Switzerland, and criminal investigations have also been launched by Swiss authorities.