Swiss authorities raided the office of FIFA president Sepp Blatter on Friday, interrogated him and then announced they had launched criminal proceedings against him.
In a statement, the Swiss attorney-general's office said Blatter was being investigated on suspicion of "criminal mismanagement" for a contract unfavourable to FIFA which he signed with Caribbean football boss Jack Warner in 2005.
The Guardian in London reported that the contract was believed to relate to television rights sold to Warner at below the market rate.
Blatter was also suspected of making a payment of U.S. $2 million to European soccer chief Michel Platini in 2011 at Fifa's expense. This was alleged to be a "disloyalty payment," although the Swiss gave no further explanation.