FIFA’s major sponsors Coca-Cola and McDonald’s have called on the world soccer governing body’s embattled President Sepp Blatter to step down immediately but he says he will not resign.

American drinks company Coca-Cola said: “Every day that passes FIFA’s image and reputation continues to tarnish.”

Fast-food chain McDonald’s said Blatter’s resignation would be “in the best interest of the game.”

Blatter was last week placed under criminal investigation by Swiss authorities but denies any wrongdoing.

In a statement released through his lawyers on Friday, the 79-year-old said resigning now “would not be in the best interest of FIFA, nor would it advance the process of reform.”

Blatter was re-elected for a fifth term as president of world football’s governing body in May, but the vote was overshadowed by arrests of Fifa officials and corruption allegations and he later announced he would be stepping down, but not until February 2016.

He is accused by Swiss prosecutors of signing a contract that was “unfavourable to FIFA” and making a “disloyal payment” to UEFA president Michel Platini.

Blatter has said the 2011 £1.5m payment made to Platini, the head of European football's governing body, was “valid compensation and nothing more.”

Platini, 60, has said he received the payment for work as Blatter’s technical advisor between 1999 and 2002 and has written a letter to UEFA members denying any wrongdoing. (BBC)

•Photo shows embattled FIFA President Sepp Blatter.