UEFA president Michel Platini will resign after ban reduction

Michel Platini will resign as UEFA president, it was announced on Monday. The news comes as the Frenchman had his six-year ban from all football-related activities reduced by the Court of Arbitration for Sport, instead of being overturned completely.

Platini remains banned from football for the next four years, likely spelling the end of his administrative career.

Platini was banned last December over receiving a "disloyal" £1.3 million ($1.9 million U.S.) payment from Sepp Blatter's FIFA in 2011. Both have since denied all wrongdoing, instead claiming that the payment was for consultancy work the Frenchman carried out for Blatter.

Platini, who enjoyed an enormously successful playing career between the early 70s and late 80s, had been UEFA president since 2007.

Since Platini's suspension last year, former Spanish Football Federation chief Ángel María Villar has been acting chief of European football's governing body, though an election will now be held to determine a permanent replacement.