FIFA Executive Committee members and other top football officials have been ordered to hand back the commemorative watches gifted to them by the Brazilian Football Confederation (CBF) during the World Cup - but UEFA President Michel Platini is reportedly refusing to do so.
In a statement, FIFA confirmed the gifts had been received by its 28-strong Executive Committee, along with a representative from each of the 32 Member Associations competing in the 2014 FIFA World Cup Brazil, and a representative from each of the 10 Member Associations in the South American Football Confederation.
According to the statement, "several football officials" - reportedly Sunil Gulati of the United States, Moya Dodd of Australia and Prince Ali bin al-Hussein of Jordan - had returned their watches and notified the Ethics Committee of the gifts leading to an investigation in mid-June.
FIFA's Ethics Committee prohibits any gifts of more than "symbolic or trivial value".
Due to the breach of conduct, FIFA has called for all 65 watches to be returned by October 24, or face disciplinary proceedings.
The statement added: "CBF should not have offered the watches, and those who received gift bags should have promptly checked whether the items inside were appropriate and, upon discovering the watch, either returned it or, like the football officials referred to above, reported the matter to the Investigatory Chamber.
"In an effort to resolve this matter expeditiously, the Investigatory Chamber will not pursue further formal ethics proceedings in this matter against officials who submit the Parmigiani watch they received from CBF to the secretariat of the Investigatory Chamber by no later than October 24, 2014."
According to the statement, the CBF claimed to have paid the equivalent of $8,710 (£5,336/€6,781) for each watch, whereas the Ethics Committee had obtained an independent assessment of $26,768 (£16,400/€20,842) for each - three times the Brazilian valuation.
Many outspoken critics of FIFA President Sepp Blatter have been caught up in the controversy, including English Football Association chairman Greg Dyke.
Dyke said he had intended to donate the watch to charity and, like many other officials, claims not to have known the full value of the gift.
Like Dyke, UEFA President Platini said he was unaware of the watches value but hit back at FIFA for failing to demand their return prior to the media allegations.
"I was very surprised by the press release of FIFA," said Platini.
"I think that the best thing would have been to call us, to say that the Ethics Committee has done 'so and so' and they're not pleased.
"But if the Ethics Committee was not pleased, they should've told us that four months ago in Brazil, when we received the watches.
"They were aware that we were receiving these watches because everybody received them.
"Because there's an article in the British press, all of a sudden FIFA says that they need to return the watches.
"There's something that's very surprising to me in the way that this process has played out and I do not like that."
Following the return of the watches, FIFA confirmed they will all be donated to an independent non-profit organisation or organisations committed to corporate social responsibility projects in Brazil.
But Platini has reportedly said he will not return the gift.
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September 2014: FIFA Ethics Committee "dealing" with claims officials breached rules by accepting lavish "gifts" during World Cup