FIFA President Joseph "Sepp" Blatter, who was just elected to a fifth term as the organization's leader, resigned today at a press conference in Zurich, Switzerland.

He leaves amid arrests of FIFA executives of corruption and bribery charges that occurred last week in Switzerland and the United States, and as he is the focus of a federal investigation, the New York Times reports.

Blatter says he will stay on as President until a special election is held, either at the end of this year or early next year.

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