Embattled FIFA president Sepp Blatter has finally succumbed to immense global pressure to resign from football’s top job, less than a week after he defied his critics and won re-election.

His resignation, which puts an end to a 40-year career at FIFA and 17 years as president, comes as a corruption cloud hangs over many of the organisation’s top-ranking officials.

Claims of bribery that threaten to derail the 2022 Qatar World Cup have seen fourteen people arrested in Zurich and charged by the US with racketeering and bribery.

• Onus on Blatter to free FIFA of corruption
• Blatter launches blistering attack on FIFA critics
• FIFA acknowledges $10 million payment

Blatter has consistently denied he was involved in corruption and accused the media of exaggerating the extent of the recent corruption crisis.

On Tuesday, explosive allegations emerged against Blatter’s right-hand man Jerome Valcke, suggesting he signed off on a $10 million payment to Jack Warner, one of the men arrested in Zurich on corruption charges.

FIFA denied Valcke’s involvement and pointed the finger at former finance chief Argentine Julio Grondona, who died last year.

While announcing his resignation during a low-key press conference at FIFA’s Zurich headquarters, 79-year-old Blatter conceded that he did not have support from the “world of football”.

“I felt compelled to stand for re-election, as I believed that this was the best thing for the organisation,” he said.

“That election is over but FIFA’s challenges are not. FIFA needs a profound overhaul.

“The executive committee includes representatives of confederations over whom we have no control, but for whose actions FIFA is held responsible.

“We need deep-rooted structural change.

“While I have a mandate from the membership of FIFA, I do not feel that I have a mandate from the entire world of football – the fans, the players, the clubs, the people who live, breathe and love football as much as we all do at FIFA.

“Therefore, I have decided to lay down my mandate at an extraordinary elective congress.”

Critics were quick to welcome the announcement – English Football Association chief Greg Dyke said the resignation was “brilliant for world football”.

The special congress cannot be held until between December 2015 and March 2016, according to Domenico Scala, chairman of FIFA’s independent audit and compliance committee.

Jordanian Prince Ali bin al Hussein, who lost to Blatter in Friday’s election, confirmed he will re-contest the FIFA leadership.

“As for new elections, Prince Ali is ready,” Jordanian Football Federation vice president Sala Sabra told AFP, adding he was also ready “to take up the presidency immediately if they ask him”.

Australia supported Prince Ali in last week’s vote.

– with AAP