FIFA has announced Feb. 26, 2016 will be the date when the global governing body of soccer will hold elections for its next president.

According to the Wall Street Journal, FIFA announced it will elect current president Sepp Blatter's replacement on Feb. 26. Blatter stated he will not be a candidate for the position, ending his almost two decade reign over FIFA. On June 2, he resigned his position after the fallout of the FIFA scandal.

In a statement made by Blatter, he wants to make changes to FIFA, including releasing salaries of all of its top executives and imposing strict integrity checks for all members of the executive committee.

"It is very important for me to show now that we will pull through these reforms until Feb. 26," Blatter said.

Blatter said serving five consecutive terms will not happen again. The committee ruled term limits will be enforced for incoming presidents and executives.

BBC Sports reports UEFA president Michel Platini has been asked to take over for Blatter. It is unknown if Platini will take the position. After Blatter's announcement about resigning, Platini said, "We now have a concrete date which means we can look forward to new leadership, which will surely bring with it new ideas and new solutions. This is an exciting time for FIFA."

Fourteen FIFA executives have been arrested, seven of which were indicted on charges such as money laundering and corruption earlier this year. Several officials have already pleaded guilty. Those arrested include Charles "Chuck" Blazer, the former head of CONCACAF, who was previously on the FIFA executive committee.

Candidates who want to replace Blatter must be nominated by Oct. 26.

Early on Monday as Blatter's news conference was set to begin, British prankster Simon Brodkin interrupted the meeting when he threw a pile of banknotes at the beleaguered FIFA honcho and said, "Here you go Sepp."

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