FA chairman Greg Dyke has returned a watch worth £16,000 he had been given as a gift during the World Cup, FIFA has announced.
Mr Dyke was given one of the limited edition Parmigiani watches by the Brazilian FA during a FIFA Congress meeting in Sao Paulo.
Sixty-five of the watches were handed out in goodie bags worth more than £1m collectively.
The FA boss initially refused to hand his back after the watches were recalled, having promised to donate it to the FA’s official charity partner, Breast Cancer Care, so it could be sold at auction.
But with the prospect of being sanctioned if he did not return the timepiece, FIFA’s ethics committee confirmed Mr Dyke had returned the watch and proceedings on the matter have now been closed.
A FIFA statement said: “Mr Greg Dyke has returned the CBF Parmigiani watch.
“As a consequence, the adjudicatory chamber of the FIFA Ethics Committee has decided to close the proceedings in respect of a possible breach of the FIFA Code of Ethics.”
Mr Dyke insisted he was not aware how much the gift was worth when he first received it and, once he was told, said he would allow it to be auctioned by Breast Cancer Care.
The charity is looking to raise £500,000 for their cause by next summer.
Press Association Sport reports that all of the watches will now be auctioned for a Brazilian charity and Mr Dyke will make a personal donation to Breast Cancer Care.