Outgoing FIFA president called for a press conference in Zurich, Switzerland, on Monday, to give his reactions on the hefty eight year-ban from football-related activities, handed to him by the FIFA Ethics Committee earlier today.
Blatter, alongwith UEFA President Michel Platini, were charged for their involvement in a "disloyal payment" in 2011.
Here is the full statement from the 79-year-old veteran football administrator from today's press conference:
"Human beings are to be respected"
"To say that today is a good day for me or for Fifa, this would be totally wrong.
Thank you for coming. The last time we had a lot of audience here in the same room was for to present the candidates of the World Cup in 2010. Here that day was Mr Nelson Mandela. He was speaking about humanity.
Humanity is where we are in our world. In our world of football and humanity, there is no other signification than respecting each other.
Human beings are to be respected and I say that because celebrating humanity through football was the slogan of the World Cup 2010, and was created by this great humanist, Mr Mandela.
I say that here because I just received today's information, a little bit later than you...
"I am still a punching ball"
"I am really sorry. I am sorry that I am still a punching ball. I am as president of Fifa this punching ball. And I am sorry for football. I am sorry to Fifa. I have served them for more than 40 years. I am sorry for 400-plus team members working in Fifa. I'm sorry.
But I'm also sorry abut me. How I am treated in this world of humanity.
I organised to have this press conference ... specifically for when I knew that there will be a decision by the Ethics Committee.
Together with a Swiss lawyer we thought that we had convinced the panel about this situation that was created about the payment by Fifa to Michel Platini for an ongoing contract that was never terminated.
On the "disloyal payment" to Michel Platini
"We are in a so-called oral contract or gentleman's agreement. This agreement was made in 1998, in France, just after the World Cup. Where Mr Platini said he would like to work for Fifa, I said it was wonderful, he said he wanted 1 million Swiss francs, I said OK we can pay you part now, part later.
What astonishes me now about the decision of the Fifa ethics committee is that they deny, they deny the existence of such an agreement.
This was indirectly confirmed by two meetings of the Uefa executive committee - the one in Sweden and the other in Zurich in December 1998.
There, people spoke about the agreement and this is written down. They have confirmed this discussion has taken place. They can recollect this discussion. We have therefore the proof that this agreement was known not only by Platini and me.
It went through the finance committee, the executive committee, to the Fifa control committee and to congress. It was registered, and it has been done in good terms.
"I will fight for FIFA"
"These allegations I have given a gift to Platini because of this arrangement and contract ... I am suspended eight years but I will fight for me and I will fight for Fifa.
I am suspended eight years for what?
Can you imagine what has been in the books? The accusations?
Mr Platini and myself were asked separately about this since the first day when this happened. It was in a meeting here in July in Zurich.
We were separated, we couldn't speak together and we have given the same answer.
But now [they say] it is not relevant, you know what means? That means that we are two liars. He is and I am a liar. This is not correct.
"Will use sporting justice now"
So therefore with my lawyer, I will use the sporting justice now to go forward. We go immediately once again to the appeal committee, to the Court of Arbitration for Sport, we go also to the Swiss.
Under Swiss law to be suspended for eight years you have to have committed something very very important. The only thing they should have done is to say: 'Yes if this arrangement existed, you should have put it somewhere in the books.'
I agree to that. But this is administrative and financial proceeding. It is nothing to do with ethics.
This decision to suspend the Fifa president ... in all countries where human rights exist - in the Olympic Charter and the Charter of the United Nations - before you are sanctioned you have the right to be heard.
Inside Fifa people couldn't understand why the president is suspended.
It has created a lot of collateral damage outside of of Fifa. My family were mocked, my daughters and their freinds were mocked, My village was in a crisis.
I am not ashamed. I regret but I am not ashamed.
"Ashamed about the committee's decision"
"I am ashamed about the committee's decision - and that they don't go to the evidence. I tell you they have no right to go against the president. The president of Fifa can only be relieved of his activities by the Fifa congress.
At the next congress, the 27 February, before the election of the new president, even though I am suspended, the president must be first relieved of his duties.
I am a man of principles. I repeat: Never take money you have not earned, pay your debts. Now they are telling me that I tried to buy through Michel Platini, votes for the 2011 elections. No.
Fifa's ethics committee has already said Platini and I would be suspended for a lifetime. Now they come a little bit back. It shows something is wrong with this system. it is why I have to fight.
"Regret for all the team members working in FIFA"
"I regret I am a punching ball and for my organisation I have served with my heart and conscience for 41 years specifically I regret for all the team members working in Fifa.
Fifa is still working well.
Today, first of all of all I was very sad. But not anymore. Now I am fighting.
When you say that what Mr Blatter and Mr Platini have said is not important that means we are liars. You cannot condemn someone without valid reason. Now I am suspended and Mr Platini too, but that does not mean it is finished.
"I will fight to restore myself"
"We have to defend ourselves, I hope Platini feels the same. I believe in God but I also believe in myself. I will fight to restore myself and believe we have the time before the 27 February, and that I will be able to attend the congress at Fifa.
I didn't question it [the Â£1.3m payment to Michel Platini] - how can I question the price of a person? I told him that Fifa could not pay him all the money now, we'll pay you later on. He asked for the payment later on - the debt existed.
Secondly, the last time I saw Mr Platini was when we left the Fifa Executive Committee with a police escort. The police put us in one room, then suddenly they separated us. Suddenly they questioned the payment to Monsieur Platini.
By the way to suspend the president of Fifa and to forbid him to go to a football stadium ... this is wrong because in the disciplinary court when this applies to players, coaches and refs, they do not go to stadiums but they can still practice with their teams.
To suspend the president of Fifa from a football match it is absolutely wrong when it does not apply to the other persons.
They tried already in 2002 to get rid of me. I don't think the ethics committee has some links the United States. I would not say there is some pressure from somebody here but there is inside the Fifa.
I have never cheated with money. And now I should have given Â£2m to buy votes. Votes from whom? I always got votes from Europe.
I'm not the cleverest man in the world, but like they say in French: Je ne suis pas un imbecile [I'm not a fool].
"I'll be back"
"I have never lost my mind and they told me Mr Blatter, sorry to say but you are really nearby. I say no I want to go home.
But I am back. I am doing better. I have the support of my daughter and the support still from a lot of people inside Fifa, and also European members - they share with me that what has happened today is not the way it should be inside Fifa.
Thank you again thank you for supporting Fifa because they are working well all around the world. I'll be back"