FIFA's suspended president Sepp Blatter holds a news conference in Zurich, Switzerland, December 21, 2015.[Photo/Agencies]

ZURICH - In response to the eight-year ban from the FIFA independent Ethic committee, suspended FIFA President Joseph S. Blatter on Monday said "I will fight!"

According to decisions by the adjudicatory chamber of the Ethics Committee on Monday, Blatter and Michel Platini, Vice-President of FIFA , have been banned eight years from all football-related activities (administrative, sports or any other) on a national and international level. The bans come into force immediately.

"It's totally wrong," the 79-year-old told in a private press conference held in FIFA's former headquarter in Zurich.

In terms of a payment of 2 million Swiss Francs (2 million US dollars) transferred in February 2011 from FIFA to Platini, Blatter said the payment based on the "oral gentleman agreement" reached after 1998 FIFA world cup, which requires Blatter works for FIFA but pay later.

The adjudicatory chamber "denies the existence of the agreement," Blatter said, adding the payment was confirmed "directly and indirectly" in two UEFA executive committee meetings in Sweden and Zurich.

However, neither in Blatter's written statement nor in his personal hearing , he was not able to demonstrate another legal basis for this payment. His assertion of an oral agreement was determined as not convincing and was rejected by the adjudicatory chamber.

By failing to place FIFA's interests first and abstain from doing anything which could be contrary to FIFA's interests, Blatter violated his fiduciary duty to FIFA.

In consequence, Blatter, who took the office from 1998, has been banned for eight years from all football-related activities and fined 50,000 Swiss Francs.

"It's a shame the committees didn't go to the evidences they are presented, the ethic committee has no right to go against the president, the FIFA president can only be released from activities by FIFA congress," Blatter said.

Blatter will resort to the FIFA Appeal Committee.