A decision was made by the FIFA Ethics Committee, chaired by Hans-Joachim Eckert, on whether Blatter and Platini would face any action for alleged misconduct.
The case centred around a payment of $2.86 million made by FIFA president Blatter to UEFA president Platini in February 2011. The pair claimed the fee was for consultancy work that they had agreed verbally, but it came nine years after the work was supposed to have been carried out.
The case was split into two parts, an investigation into each man. Blatter making the payment was looked into by Robert Torres, a member of the investigatory chamber of the Ethics Committee. Platini receiving the money was looked into by Vanessa Allard, another member of the chamber. They submitted a report in November which concluded that the payment had 'no legal basis'.
What punishment has been handed out?
They have each been banned from all football activity for eight years.
Blatter was handed a $76,280 fine while Platini was fined $118,575. Given that Blatter is 79, it is unlikely he will ever work in the game in an official capacity again.
Platini will be 68 by the time his suspension is over, and could still return. The proven charges included offering and accepting gifts, conflict of interest, and violating their fiduciary duty to FIFA.
Will they appeal the ruling?
In a press conference Blatter held shortly after the ruling, he declared that he would appeal. It is expected he will appeal first to FIFA and then to the Court of Arbitration for Sport.
Blatter wants to host the election congress in Zurich and hoped to become an honorary president, thus cementing his place in FIFA's ranks.
Platini is expected to appeal as well. He wants to clear his name so he can run for FIFA president.
What have Blatter and Platini said?
Blatter blamed everyone but himself. 'I am really sorry. I am sorry that I am still somewhere a punching ball,' he said in the press conference. 'I am sorry that as president of FIFA, I am this punching ball. I am sorry for football.' Adding: 'I will fight for me and I will fight for FIFA. Suspended for eight years for what? I am not ashamed even if I am suspended. I am still the president. The committee cannot go against the president.'
Platini boycotted his hearing a week previously, because he felt a decision had already been made. His lawyers went in his absence. He is yet to speak publicly about the decision.
What does it mean for FIFA elections?
The key effect of the ban means that Platini, who would've been favourite, cannot run to replace Blatter as FIFA president.
The five candidates are: Prince Ali bin Hussein, Salman Bin Ibrahim Al-Khalifa, Jerome Champagne, Tokyo Sexwale and Gianni Infantino. Platini was placed under suspension when the case was opened against him, but had hoped he would be eligible to run if it was dropped. That is no longer the case.
How will Blatter be remembered?
His legacy is tainted and Blatter will be remembered as overseeing one of the world's most corrupt sporting bodies. There aren't many in the sporting world that Blatter hasn't rubbed the wrong way.
Blatter has regularly offended with his remarks about women in football. Asked how to improve the popularity of their sport, he said: "Let the women play in more feminine clothes like they do in volleyball. They could, for example, have tighter shorts. Female players are pretty if you excuse me for saying so."
He has also caused outrage over his pronouncements on racism in football (he said "there is no racism"), on homosexuality (he advised gay fans at the 2022 Qatar World Cup to "refrain") and told John Terry, following allegations of an extramarital affair, that "if this happened in, let's say Latin countries, then I think he would be applauded".
