FIFA President Sepp Blatter and his UEFA counterpart Michel Platini are thought to be under formal investigations on the alleged transfer of 1.76mln Euros by the former to the latter’s bank account only a few weeks before Platini stepped down as a contender for the FIFA Presidency. Sepp Blatter had reportedly approved the money transfer himself via FIFA funds to a personal account belonging to Michel Platini, a move that is allegedly connected to Platini’s decision to withdraw from the race for the FIFA top spot. Both men deny any wrongdoing, claiming the banking transaction between the two had to do with services rendered in the past. The timing of the cash movement, along with the fact that immediately after Platini withdrew from the Presidential race called on federations to back Blatter’s candidacy raises many suspicions. FIFA’s ethics committee is investigating the matter and will decide whether it will suspend Blatter and impose sanctions on Platini.