FIFA releases statement over arrest of it's vice presidents by the U.S. Department of Justice this morning

FIFA releases statement over arrest of it's vice presidents by the U.S. Department of Justice this morning

Football's governing body, FIFA, has released a statement concerning today's raid by police at the luxury Baur Au Lac Hotel, scene of raids in May that saw seven FIFA officials arrested and charged, triggering a crisis from which the organisation is still reeling. The officials who were arrested at 6a.m this morning are being held in custody pending extradition, the Swiss authorities said. The US arrest requests say the officials are suspected of accepting bribes involving millions of dollars.

The Swiss authorities say they will hold hearings on the requests before the end of the day.

If the officials agree to extradition, the process can be agreed immediately but, if they oppose extradition, the US will need to submit a formal extradition request within 40 days.

Read FIFA's official statement on it's website after the jump.

''FIFA is aware of the actions taken today by the U.S. Department of Justice. FIFA will continue to cooperate fully with the U.S. investigation as permitted by Swiss law, as well as with the investigation being led by the Swiss Office of the Attorney General. FIFA will have no further comment on today’s developments''