11:30 a.m.
FIFA members have passed wide-ranging reforms to protect against corruption and curb the powers of its new president.
Needing a 75 percent majority for approval, 89 percent voted yes. FIFA says the ballot was 179-22 in favor.
The vote was taken after the Palestine soccer federation argued for a delay to let the new president lead the process.
Outgoing president Sepp Blatter ordered the reform review in June after American and Swiss federal investigations hit FIFA.
FIFA
and its lawyers hope the reform will help show U.S. prosecutors the
soccer body is serious about changing its culture, and protect its
status as a victim in the American investigation.
Many
decision-making powers will be stripped from the president and
executive committee, to be renamed the FIFA Council with more female
members.
Term limits of 12 years and stricter integrity checks will also control top officials.
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10:40 a.m.
Acting FIFA secretary general Markus Kattner says staff morale has been hit by a looming $550 million financial deficit.
Kattner tells the FIFA election congress there is "general uncertainty that is affecting morale of the FIFA team."
He
says "we are currently $550 million behind our goals" to reach a budget
target of $5 billion revenue from the 2018 World Cup in Russia.
FIFA has not signed any new World Cup sponsors since the 2014 tournament in Brazil.
Since
American and Swiss federal investigations of corruption hit FIFA last
May, officials have cautioned that potential sponsors would wait until
after the election to replace Sepp Blatter before committing.
Kattner says FIFA is "optimistic of concluding contracts" soon.
FIFA will publish its 2015 financial report next month. It is expected to show a loss of at least $100 million.
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10:30 a.m.
On
the day of the FIFA presidential election, security forces are on the
streets of Bahrain's capital in a sizeable show of force rarely seen
since the island nation's 2011 uprising.
Sheikh Salman, a member of Bahrain's ruling family, is one of the favorites to succeed Sepp Blatter as FIFA president.
It's
not clear what security forces were preparing for Friday ahead of noon
prayers, but travel within Manama was nearly impossible.
Sheikh
Salman repeatedly has denied having any role in Bahraini soccer players
being identified and arrested during the 2011 crackdown by the
government led by his family, the island's Sunni rulers.
It also comes after security forces in eastern Saudi Arabia killed a Bahraini man several days ago.
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10:10 a.m.
IOC
President Thomas Bach has told soccer leaders that new standards of
governance are now required as they prepare to elect a new president.
In an attempt to prevent corruption, 207 nations were also voting on reforms at soccer's governing body.
Bach
told the FIFA extraordinary congress that "we live in a world that is
asking new questions ... you can't compare the standards of good
governance of yesterday with the requirements of today."
FIFA
has been fighting for its future since leading officials, including
vice presidents, were indicted in a U.S. bribery and racketeering
investigation.
Urging
FIFA members to adopt the reforms, Bach says "you have this great
chance to turn the page and start a new chapter for football."
Sepp
Blatter wasn't at the Zurich congress to hand over power to a new FIFA
president because he is serving a six-year ban from soccer for financial
mismanagement.
Bach says "you are electing your new team leader. Today you are deciding your new game strategy."
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9:45 a.m.
Soccer
leaders have gathered in Zurich to elect a new FIFA president, with
Asian confederation head Sheikh Salman the favorite to succeed Sepp
Blatter.
The presidential election is to begin at about 1300 GMT following speeches by the five candidates.
Blatter
was re-elected for a fifth term in May but, amid escalating corruption
scandals, bowed to pressure four days later and announced he would
resign. Blatter was subsequently banned for six years for financial
mismanagement.
Before
electing FIFA's first new president since 1998, the 207 nations
eligible to vote will be asked to approve reforms intended to prevent
further corruption and bribery scandals.
Those include preventing presidents from serving more than three four-year terms and reducing their powers.
By: Associated Press (Zurich).
Review: Emerging Market Formulations &
Research Unit, Flagship Records.
For The #FacebookTeam