Swiss federal prosecutors on Friday announced that they had opened criminal proceedings against FIFA president Joseph "Sepp" Blatter "on suspicion of criminal mismanagement" and "suspicion of misappropriation."

Investigators believe Blatter signed a contract that was "unfavorable for FIFA" with the Caribbean Football Union [with Jack Warner as the president at this time] back in 2005. In doing so, prosecutors said they suspected that Blatter "violated his fiduciary duties and acted against the interest of FIFA and/or FIFA Marketing and TV AG."

The second alleged payment under investigation was to UEFA's current president, Michel Platini, in 2011. "Mr. Joseph Blatter is suspected of a disloyal payment of 2 million Swiss francs (1.8 million euros, $2.04 million)" to Platini, the statement read, saying that the purported payment was "supposedly made for work performed between Janaury 1999 and June 2002." The payment was executed in 2012.

Platini released a statement on Friday evening insisting that the payment under investigation was for FIFA work under contract.

"Today I was asked by Swiss authorities to provide information relating to the ongoing investigations surrounding FIFA," the UEFA president's statement read. "I have always been open to supporting the relevant bodies and authorities in their investigative work and therefore I have cooperated fully. Regarding the payment that was made to me, I wish to state that this amount relates to work which I carried out under a contract with FIFA."

FIFA said in a statement that it had been cooperating with the Office of the Attorney General of Switzerland (OAG) since May 27 and has complied with all requests for documents, data and other information.

FIFA also faces a separate corruption probe led by authorities in the US.

Blatter is the first person to be formally questioned as a suspect in the Swiss investigations, which were instigated by FIFA last November when complaints were made over possible money laundering during the bidding for the 2018 and 2022 World Cups.

Earlier in the day, FIFA first delayed Sepp Blatter's press conference before calling it off just minutes before it began. With news of criminal proceedings against the FIFA President following soon after, the reasons for canceling the press conference became slightly clearer.