See Below: Michel Platini's Career Milestones

Michel Platini said Monday he will resign as UEFA president after his appeal against a six-year ban from football activities failed.

The Frenchman said he would resign to pursue the case over a suspect $2 million payment in Swiss courts in a bid to clear his name.

The Court of Arbitration for Sport rejected the appeal saying it was not convinced about the "legitimacy" of the payment ordered by ex-FIFA president Sepp Blatter.

It did cut the ban to four years and reduced a fine from 80,000 Swiss francs ($80,000) to 60,000 Swiss francs.

"I note today's decision by the Court of Arbitration for Sport but I consider it a profound injustice," Platini said in a statement.

"This decision inflicts a suspension for which the length stops me, de facto, and by luck, from being a candidate in the next FIFA presidential election," he added.

"As agreed with the national associations, I resign as president of UEFA to pursue my fight before the Swiss courts to prove my probity in this case.

"Life has always kept beautiful surprises for me, now I am free to live them," said the former French football star.

The decision means that Platini will not be able to take any official role in the European Championship finals that start in France on June 10. He was a key organiser of the event until the FIFA payment scandal erupted.

MILESTONES in the career of Michel Platini

Michel Platini after France beat Brazil in a 1986 World Cup quarter-final

1972 - Frenchman Platini starts his football career in his home country with Nancy, going on to also play for Saint-Etienne and Juventus.

1984 - The attacking midfielder leads France the European Championship title, and also wins his second of three consecutive Ballon d'Or awards.

1992 - He resigns as coach of the France national team after his side bow out in the first round of the Euros, ending a four-year spell in charge.

1998 - Platini turns himself into an accomplished football administrator and politician. He is joint head of the organising committee for the World Cup held in France and won by the hosts.

2007 - He becomes UEFA president, a role he would keep for more than eight years.

2015 - Platini is given an eight-year ban from all footballing activity by FIFA, later reduced to six years, for a "conflict of interest" over a suspect two million Swiss franc ($2 million) payment authorised by former FIFA leader Sepp Blatter.

2016 - The 60-year-old's appeal to the Court of Arbitration for Sport against his ban only sees the duration cut to four years. Platini announces his resignation from the UEFA presidency on Monday, May 9.