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Quest Means Business

Explosive New Information on U.S. Investigation into FIFA; Greek PM in Brussels for Crucial Talks; Economic Report Card; U.S. Markets Close Higher. Aired 4-5p ET

Aired June 03, 2015 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

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[15:59:58] RICHARD QUEST, CNN HOST (voice-over): The market is up a third of a percent, a gain of some 60-odd points. We had a very busy day, as

you're going to discover. The closing bell, I have -- oh, it's a gavel. This man has brought his own gavel from Biddle Properties.

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QUEST: I'm speechless.

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QUEST (voice-over): On Wednesday, the 3rd of June, tonight, explosive new information on the U.S. investigation into FIFA's corruption. It's just

been released. You're going to hear the testimony in seconds from now.

It's a deal to stop doomsday. Talks in Europe and Greece are underway in Brussels and the chief executive of Total says all that drops (ph) on the

cost of crude.

I'm Richard Quest. It's a great hour ahead and I mean business.

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QUEST: Good evening. We have breaking news for you tonight. The U.S. prosecutor's interview with Chuck Blazer -- he's the FIFA official who has

confessed to corruption and spurred a swath of arrests and twin investigations into the governing body -- has been released.

This is the document. It is some 39 pages long, U.S.A. versus Charles Blair (sic) Blazer. It was in proceedings in Brooklyn on November the

25th, 2013. So this gives you an idea of how long this has been around.

Now in this document, Blazer admits that he was part of a group that accepted bribes for the 1998 World Cup in France and he did the same for

the 2010 World Cup in South Africa.

"WORLD SPORT's" Don Riddell is with me from the CNN Center.

Don, I looked at it very briefly. Most of it is all about asking Blazer if he understands what he's letting himself in for by pleading guilty. But

it's page 30 and 31 -- "I and others" agreed "two acts of racketeering," " acceptance of a bribe in conjunction with the selection of the host nation"

for the 1993 (sic) cups.

"I and others agreed to accept bribes and kickbacks in conjunction with the . rights of the 1996, 1998, 2000."

What do you make of it, Don?

DON RIDDELL, CNN CORRESPONDENT: Well, you just saved me the job of going through it, Richard. Those are certainly the salient points.

The things that really leaves out is his involvement in taking bribes with regards to the 1998 World Cup finals tournament, which of course was hosted

by France. That vote came down to two countries in the final running, either France or Morocco. We don't know -- it's not stated here -- whether

he was taking bribes for or against France.

But this is the first time that we've heard that bribery was involved, that corruption was involved in the awarding of the 1998 World Cup tournament.

We already knew about the situation regarding 2010; the U.S. Department of Justice released several of those details in that spectacular press

conference last week. But now we've got him on record admitting that, too.

QUEST: Now, Don, remind us, for those like myself who are not as au courant with FIFA and the footballing world, who was or is Charles Blazer?

RIDDELL: Well, he was a very senior official within the organization for many, many years. I mean, he rose to prominence with United States soccer

and CONCACAF. He was CONCACAF's general secretary for a very, very long time, from 1990 until 2011. And he sat on FIFA's executive committee, also

for a long time, from '96 or '97 right the way through until 2013.

As you say, this testimony is actually from a couple of years ago. And the wheels have been in motion for quite a long time now regarding his

involvement in this investigation. It has been reported that he wore a wiretap to the London Olympics in 2012 and it's from there that this

investigation really sprang into life.

QUEST: And we've -- and I'm dredging my memory now but there was always the thought -- if I'm not mistaken -- and correct me, please, if I'm wrong

-- that Blazer was the person who had turned evidence and was going to spill the beans.

RIDDELL: Yes, exactly right. It was because of his unpaid tax situation and he owed millions and millions of dollars of -- in unpaid taxes. He was

really living an incredibly lavish lifestyle in New York at the taxpayer's -- I'm sorry; at football's expense. And for some reason he opted not to

pay multiple tax bills. And that's when the authorities caught up with him.

[16:05:00] And it was during that situation where we understand that he agreed to help open the investigation and lead down some very interesting

avenues.

QUEST: Now, Don, Blazer is pleading guilty but of course others have the right to a fair trial. And in that regard we'll say either he was wrong;

he's making it up or he has his own motives.

So where does this -- I mean, take this document and tell me how much of a bombshell this is.

RIDDELL: Well, I guess we were expecting quite a lot of it. I mean, if you go through, as you say, 39-49 pages, there's an awful lot of guff in

there, as you say. There's a lot of kind of, do you understand, yes or no, and all the rest of it.

I think 1998 is significant. That widens the net once again. This was another major tournament which was part of the corrupt practices at FIFA.

So that really is the new line here.

But it's just further detail of what was going on --

(CROSSTALK)

RIDDELL: -- incidentally, something we haven't touched upon yet, there are several sections here which are completely redacted. So we don't know what

was in the full testimony. But the name Sepp Blatter does not appear in the version that we have been providing, which of course, could mean a lot;

could mean nothing. But I just want to say for the record his name's not in here.

QUEST: Don, stay there for just one second.

Isa Soares is outside FIFA headquarters at the moment.

Isa, do -- what can you add to our understanding in the last few hours or few minutes?

ISA SOARES, CNN CORRESPONDENT: Yes. I've been going through as well, Richard, almost 40 pages. I want to just point out a couple of quotes that

I've seen. I'm going to read it out here.

"During my association with FIFA and CONCACAF, among other things, I and others agreed that I or a co-conspirator would commit at least two acts of

racketeering activity. Among other things, I agreed with other persons in or around1992 to facilitate the acceptance of a bribe in conjunction with

the selection of the host nation for the 1998 World Cup."

It's a similar quote we get regarding the World Cup, the 2010 World Cup in South Africa. And like Don was mentioning, Richard, there are a couple of

those full redactions, one of them which it says, "Is there anything else?" It's a question. And we don't have the answer. We -- there's no name for

Sepp Blatter. But that leaves open many, many questions -- Richard.

QUEST: Isa Soares, who is at FIFA in Zurich.

Back to Don Riddell -- thank you, Isa.

Don, do you think this, the release of this document, was the coup de grace or knowledge of the release of it was a coup de grace for Blatter?

RIDDELL: You mean what prompted him to step down so sensationally yesterday? Possibly. I mean, we are still speculating as to what it was

that persuaded him to make that walk towards the door so sensationally yesterday afternoon.

It could be so many things, Richard, but I think he probably would have known that this testimony was coming out. But just so we're all clear on -

- we don't know what's in that bit, Richard. We don't know what's in that bit.

(LAUGHTER)

RIDDELL: We don't know what's there. There could be some really interesting stuff behind the black. But we're going to have to wait a bit

longer to find that out.

QUEST: Yes, well, yes, all right, all right. It's the -- OK. I think I can -- on one of those things, on one of those things I think I can help

you out. I'm getting it for detail of who's providing the bond and all those sort of -- but I take your point.

Don Riddell, who is at the CNN Center.

Is Isa Soares still with us?

Isa, you are still in Zurich.

SOARES: I'm still here, Richard.

QUEST: Well, of course you're still in Zurich, but you're still with us.

Isa, the -- what's the mood at FIFA tonight?

SOARES: Well, to be honest, I'm going to show you, it's myself and another correspondent and a lot of people weren't expecting this to come out so

late tonight, perhaps they were expecting more early in the morning. But you know, this is something, this Blazer testimony is something we've all

been waiting for. And that raises questions, Richard, once again as to the timing of Sepp Blatter's announcement, why did he announce, why did he

decide to step down post-that election?

Why did he not do it before?

So obviously a lot of speculation as Don was pointing out. One of those is did he look around and see the majority of his friends right at the top of

the food chain, they were falling off like pieces of domino. He did not have any support. Or did he see the investigation is getting so close,

allegations are coming to him, right, front and center and really he has no other option here but to step aside.

Many, many questions being raised, Richard. One of those is people have been asking here if -- why he's -- why can't he leave earlier? Why did he

have to wait four or five months?

[16:10:00] And he's -- is he preparing to shape, to get the next person in line, someone who he approves to be the next president?

QUEST: Isa Soares from Zurich, thank you for duty there.

Michael Hershman is a former member of FIFA's independent governance committee. He's also president and chief executive of the Fairfax Group,

joins us now from Washington.

Well, here we have it. There it is, page 30, 29 and 30. It couldn't be clearer, Mr. Hershman. Blazer admits "I and others agreed to accept bribes

and kickbacks in conjunction with the broadcast and other rights" to the Gold Cups and the World Cups.

What do you make of it?

MICHAEL HERSHMAN, FORMER MEMBER, FIFA INDEPENDENT GOVERNANCE COMMITTEE: Well, I think there's several important points here. First Chuck Blazer

was in my -- at least to my knowledge the only American to have ever served on the FIFA executive committee until more recently, when he was succeeded

in that post.

But Chuck Blazer and Sepp Blatter were very, very close. They had both a professional relationship and a personal relationship. Something happened

in recent years, where they had a falling-out. But throughout the early 2000s and into the mid-2000s, they went out to dinner together. They

worked together. They partied together.

Chuck Blazer knows a lot about Sepp Blatter.

QUEST: Do you think -- I mean, Blazer has pled guilty and will take the consequences of his actions. But is he the singing canary that -- and I

don't just mean whether it takes it to Blatter but whether it takes to Warner, whether it takes it to all the other people who've been indicted.

Is Blazer the canary that takes it there?

HERSHMAN: Well, he's the one that began the ball rolling. And let's not forget he began the ball rolling by coming -- becoming a whistleblower and

blowing the whistle on payments by Bin Hamman, who ran for president against Sepp Blatter and paid bribes for support to members of CONCACAF.

That was the beginning of the end in terms of Chuck Blazer's anonymity. So I think that what's happening now -- and this is not untypical of any

investigation, international investigation as complicated as this one -- others are coming forward now.

QUEST: If this is all true, help me understand, what is the -- I mean, Russia, it's probably too late to take the Russian games away.

But give me an honest assessment to the mechanism and legality for FIFA to withdraw the games from Qatar.

HERSHMAN: Very difficult. The contractual obligations are pretty firm. You would have to have substantial evidence to rebid the World Cup, either

Russia or Qatar. Right now I haven't seen anything to convince me that substantial evidence exists.

QUEST: Sir, we shall follow this and we're grateful that you're helping us understand what's happening. Thank you very much indeed for joining us.

HERSHMAN: Good to see you.

QUEST: Thank you.

Now all this, do forgive me, I've got a bit of a cold today.

All this as Russia and Qatar are doing damage limitation and control, preserving their World Cup bids. And even if they can't lose the World Cup

at least preserving their reputation such as it might be after these allegations. The football world is looking at a new future after the

resignation of Blatter and the FBI's now joining the Swiss in investigating the 2018 and 2022 tournaments were awarded.

Come and join at the superscreen. Disputes are brewing on several fronts as the rhetoric flies from those accused in the malfeasance. So let's

start with South Africa. South Africa says it is ready for the United States investigation into its 2010 bid. Remember it's an allegation of a

$10 million fund from South Africa via FIFA that was used to bribe the Caribbeans. The country sportsman denies that money was used to pay bribes

and is challenging the United States to show the world their evidence.

(BEGIN VIDEO CLIP)

FIKILE MBALULA, SOUTH AFRICAN MINISTER OF SPORTS And RECREATION: We still need the United States authorities to share with us the basis of their

allegations. The fact that a payment of $10 million U.S. was made to an approved program above board does not equate to bribery.

Those who allege should prove their allegations.

(END VIDEO CLIP)

QUEST: Qatar and Russia are now being forced to defend their bids for the next two World Cups, bearing in mind the '18 and the '22 World Cups.

The Qatar '22 committee says recent events will not have an impact.

[16:15:03] Qatar's stock exchange fell some 3 percent in the wake of the Blatter resignation and in Russia the tournament coming in just three

years' time, well, the sports minister in Russia says there is no threat whatsoever of it being taken away.

So you see the stench that is arising. Let's start in Russia, where our correspondent, Matthew Chance is in Moscow and has been looking at the

fallout from the investigation.

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MATTHEW CHANCE, CNN SENIOR INTERNATIONAL CORRESPONDENT (voice-over): It's all been so polished and carefully choreographed. Russia's no-expense-

spared preparations for the 2018 World Cup include these highly produced videos, spotlighting the 11th host city across the world's biggest country.

But there Russian officials are on the defensive.

VITALY MUTKO, RUSSIAN SPORTS MINISTER (through translator): The football championship is a FIFA project. Russia only offered itself as an

organizer. It fulfills its responsibilities and I don't know who would win if a decision to take away the 2018 World Cup from Russia would be made.

CHANCE (voice-over): But behind the scenes, concerns may be growing. With the resignation of Sepp Blatter amid corruption probes, one of the biggest

supporters of a Russian World Cup has been effectively removed. And if there's evidence of wrongdoing, the awarding of the tournament to Russia in

2018 and to Qatar in 2022 could be reviewed.

Well, if the 2018 World Cup championship does remain in Russia, this is the stadium in Moscow where the final will be played; another 11 are being

built from scratch or renovated across the country at enormous cost.

At the moment, any talk of Russia being stripped of the championship has been dismissed as unworkable. But it's not clear to anyone at this stage

what the U.S. and Swiss investigations into FIFA could turn up. We're still at the start of this investigation -- not the end.

Whatever else, recent developments have been a blow for Vladimir Putin. Just days ago, the Russian leader, a strong supporter of Sepp Blatter, sent

the FIFA president a telegram, congratulating him on his reelection. Russians everywhere may have breathed a sigh of relief that the World Cup

was secure. But that could yet prove premature -- Matthew Chance, CNN, Moscow.

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QUEST: I promised you a lively hour. There's a showdown in Brussels in a moment. The Greek prime minister is meeting the heads of the European

Commission and others for talks over the debt crisis and there are competing proposals on the table.

How ever much they compete, the time's running out. QUEST MEANS BUSINESS.

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QUEST: Right now the Greek prime minister is sitting down with the head of the European Commission in Brussels and both men are proposing their

different solutions to Greece's immediate debt crisis.

The prime minister is Alexis Tsipras. He arrived a short time ago to the meeting with President Jean-Claude Juncker. The agreement, if reached and

passed, would unlock nearly $8 billion in urgent needed funds for the Greek government, money that they need before they run out and they can pay bills

and debts to the IMF.

Mr. Tsipras today international creditors to do their part to clinch a deal.

(BEGIN VIDEO CLIP)

[16:20:02] ALEXIS TSIPRAS, GREEK PRIME MINISTER (through translator): As is known from yesterday evening, the Greek government has formally

submitted its proposal to the institutions for an honorable and mutually beneficial compromise which will give an end to this crisis in Europe and

will allow Greece to escape this economic asphyxiation, provide room for recovery and put an end to Grexit scenarios, to doomsday scenarios.

(END VIDEO CLIP)

QUEST: That's the Greek prime minister.

Well, the world's been given an economic report card today and if you look at it, well, I'm afraid the grades are decidedly mixed.

Today we heard, when we talk about Eurozone unemployment, it fell to 11.1 percent. That's the number of people who are out of work in the Europe --

in the Eurozone. It's the lowest level in some three years; but obviously it is still dramatically higher than, say, for example, individual

countries at the low end -- or the United States or Japan.

And the OECD has given the global economy a verdict. And here, ooh, B-.

Cheap chalk.

More jobs are needed to bump it up to an A grade.

So 11.1 percent and a B-, all of these are issues for the OECD and general -- and Secretary-General Angel Gurria talking to Maggie Lake.

(BEGIN VIDEOTAPE)

ANGEL GURRIA, OECD: Well, we need to focus on the engines of growth and that's investment, which is at half-speed; trade, which is at half-speed

and credit, which is flat to negative in many of the jurisdictions.

You're seeing flat numbers for the first quarter sometimes, somewhat negative in the United States. But that's due to rather exceptional

circumstances. We believe that the United States is going to grow between 2 percent and 2.5 percent, moving to a much greater dynamic in 2016.

Europe is having exceptionally favorable circumstances. That means low price of oil, low interest rates and right now a very competitive euro.

So they should take advantage of these conditions by moving towards structural change.

But yes, 2015 is going to be a better year than 2014; 2016 is going to be even better than 2015. But we have to work hard to make it happen. We've

run out of room on the monetary policy side. We are almost run out of room on the fiscal policy side. We're reducing deficits, trying to reduce the

accumulated debt.

So where you go? Well, you go structural.

MAGGIE LAKE, CNN HOST: Let me ask you, you talked about being out of room on the monetary policy side. We have a situation where the U.S. Federal

Reserve may finally start to raise interest rates.

Do you think that the world is ready for that?

GURRIA: Well, we've been getting ready for that since the famous September tantrum provoked by some suggestions by Ben Bernanke that this may happen.

It has not yet happened but it will happen at a time when normality is moving in and more normality is good. There will be sustainable --

sustained growth and at the same time the job creation machine has been impressive. You know, it's been 11-12 million jobs by now.

So the normality, the normalization of interest rates is still going to be done gradually and slowly. It's not going to happen overnight. It's not

going to go up just ballistic. We're going to have time to adjust to this and at the same time the U.K. may follow suit sometime after that.

The Europeans are still in the process of QE. But basically the question is the monetary policy -- gave the monetary policy strategy has done what

it could do. Now it's up to the governments to do the structural changes and to modify, modernize the institutions in order to make it happen.

(END VIDEO CLIP)

QUEST: Gurria talking to us earlier.

Now European shares ended the day mostly up. It was a very volatile session.

Well, you can imagine, it was Athens that you saw most activity. We were down heavily yesterday, now up 4 percent. The market dipped late in the

session after the comments from the ECB president concerning QE and the measures that were necessary. The easing measures that would be running

until September of next year.

The U.S. markets, they continue to show -- if you look at the graphics, seems a lot more exciting than it actually was, but it was a gain of 64

points on the Dow when the market closed just 25 minutes ago. QUEST MEANS BUSINESS.

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QUEST: Here in the U.S., the markets had a rocky session, difference to know why if you take a look at the map -- or the graph -- you'll see -- I

mean, it went up.

Paul La Monica's here, CNNMoney digital correspondent, it went up and it didn't hold the gains and it came down a bit. But it still was up 60 on

the day.

So what happened?

PAUL LA MONICA, CNNMONEY DIGITAL CORRESPONDENT: No, we had a nice day even though it wasn't as good as it was looking earlier on. I think the market

really is still just waiting for more evidence that the U.S. economy's picking up enough steam. We had a nice jobs report number from payroll

processor ADP, private sector jobs pretty much in line with forecasts.

But the real drama is going on in the bond market. I think that's what investors have to pay attention to. The 10-year yield Treasuries and

German debt, their highest levels of the year, I think, people are looking at Greece. They're looking at inflation actually starting to crop up in

Europe amazingly enough.

QUEST: But it's -- the yield is going up and the price is going down.

LA MONICA: Yes.

QUEST: Which also suggests that rates going up sooner rather than later.

LA MONICA: That is the conventional bet, that Janet Yellen has to sooner or later raise interest rates. I think people are still expected September

but, you know, the jury's still out.

QUEST: Which creates a bigger gap between -- which creates a bigger gap between, of course, German bunds down at the low end and then U.S.

Treasuries.

LA MONICA: At this point. But they're both going up kind of in tandem. So the gap really isn't widening that much because it really looks like what's

going on in Europe is driving U.S. yields higher as well.

QUEST: Thank you, sir.

LA MONICA: Thank you.

QUEST: So a vast treasure trove of confession from Charles Blazer and FIFA. The issue, though, for FIFA is not only how to prevent themselves

getting locked up and arrested and put in prison, but how to rebuilt the organization. We'll talk about that after the break.

[16:28:30]

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[16:30:00] RICHARD QUEST, CNN INTERNATIONAL ANCHOR AND REPORTER HOST OF "QUEST MEANS BUSINESS" SHOW: Hello, I'm Richard Quest. There's more

"Quest Means Business" in just a moment when we'll take you to the Middle East where there are preparations underway for an epic OPEC showdown.

And a touchdown for Marissa Mayer. The NFL is coming to a computer screen near you. Before all of that, this is CNN and on this network the news

always comes first.

Qatar says preparations for the 2022 World Cup are moving forward. The country's foreign minister claims racism and prejudice are what are behind

what he's calling a bashing campaign against Qatar.

The FI is now joining the Swiss in investigating how the 2018 and 2022 tournaments were awarded.

Rescuers in China have been cutting holes into the capsized cruise ship according to state media. They're searching or more than 400 people still

missing from the Eastern Star, the ship that sank two days ago. CNN's David McKenzie is there.

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DAVID MCKENZIE, CNN CORRESPONDENT At this hospital in Jianli they were hoping for many more survivors but few came. Now more than 400 are

believed to be still trapped in the region of that boat. Maybe some are still alive inside air pockets and they're desperately continuing the

search here.

More 500 tons of salvage equipment, according to authorities, are trying to right the ship under the water and they're drilling into the hull to try

and see if they can get inside. Now family members are streaming to the scene to see if there's any hope left. We spoke to one many whose mother

and uncles and aunt were onboard.

MR. WEIR, FAMILY OF SHIP VICTIM, VIA INTERPRETER: I have gone beyond the sadness. I am preparing for the worst while still holding on to hope.

One thing I want to do the most is to see my mom.

MCKENZIE: Authorities are doing everything they can they say to provide comfort for the families and also assuring them that they might still find

survivors. But as the time stretches on, the hope is fading fast. David McKenzie, CNN Jianli, China.

(END VIDEOCLIP)

QUEST: Parts of Eastern Ukraine are coming under fire after months of a heavy, shaky ceasefire that was declared in the region. Ukraine's defense

minister says pro-Russian separatists tried to advance on Ukrainian troop positions tells the Reuters News Agency. Ukrainian forces halted the

advance.

The World Health Organization says a deadly outbreak of MERS in South Korea is likely to grow. There are 30 confirmed cases of the respiratory virus

which is has no vaccine or cure. Two people have died so far in the largest outbreak outside of Saudi, Arabia. South Korea's president has

admitted there were problems with the government's initial response.

And so to our top story and the developments in the past hour as the FIFA corruption case gets ever wider. U.S. prosecutors have released the

testimony of a former FIFA official. This is the testimony. It goes back to 2013. The man is Charles Blazer, and in it he admits he was part of a

group that accepted bribes for World Cup decisions. And he did the same from the 1998 and in the 2010 World Cup in both France and South Africa.

Richard Roth is with me now. Richard, what do we make of it?

RICHARD ROTH, CNN SENIOR U.N. CORRESPONDENT: Well it shows that the U.S. government was already working on this of course in late 2013 and it also

shows how Blazer is still 2013 a major figure in really rocked the FIFA boat.

I mean, he says, he admits and pleads guilty in effect to conspiring to try to determine which country was going to host the World Cup of 1998 which

went to France, 2010 in South Africa. I know we've heard some South Africa denials about bribes today but it's still a labyrinth of admissions.

He already pled guilty to wire fraud and conspiracy, two counts of racketeering and he doesn't have any problems with doing that in this

document. These are admissions at a closed courtroom in New York.

QUEST: From those you've spoken to that know Blazer, how much of this is him just exculpating himself from - we don't know what the terms of any

agreement are?

[16:35:08] ROTH: Right. And the judge tells him you're aware that he will be sentenced and he could be sentenced to felony counts which have large

prison terms though he also in this series of documents talks about supervised release.

Blazer is not a well man physically. In the documents he talks about having rectal cancer and getting chemotherapy treatment. I talked earlier

today with Carlos Geron, a staffer for Blazer at the CONCACAF, the federation there in the Caribbean, North America, South America.

In their office in New York's Trump Tower he was shocked at how small the office was, described Blazer as larger than life. But just hours before

these documents were released, he reflects on how important Chuck Blazer is to this whole case.

(BEGIN VIDEOCLIP)

CARLOS GERON, FORMER CONCACAF STAFFER: I just want to say that I think that Chuck Blazer is the most important person in soccer today. If it

wasn't for him, none of this would be happening. It took someone at his level, at his stature to have the type of information and access that

Loretta Lynch needed and if it wasn't for Chuck Blazer, you know, I don't think we'd be at the cusp of really powerful change at FIFA.

(END VIDEOCLIP)

ROTH: Now Geron said, yes, he's larger than life, he had a dark side also. Carried around wads of $100 dollar bills and also had a parrot which people

have been talking about at times alone in the Trump Tower apartment, also a cat. He was told by Blazer (AUDIO GAP) like, oh, you should have seen

Chuck last night, lot of models, lot of parties. He was involved with a lot of activity - some legal, some not.

QUEST: And I'm wondering from what you understand, how much - I mean, the FBI obviously has more - it has more evidence now if you read the full

indictment. But how much of the case rests on Blazer?

ROTH: Well he did wear a wire. He's the only known informant so far and he was a gregarious guy, probably got others to talk. No doubt as you well

know that they're probably leaning on many of the dozen or so who are already indicted to see what they know. And we've seen reports this week

which may or may not have led to Sepp Blatter saying goodbye.

QUEST: Richard Roth, thank you, sir.

ROTH: Thank you.

QUEST: FIFA is looking at massive overall in the wake of Blatter's resignation. It will be led by Domenico Scala who is the organization's

head of compliance. And he said the changes will fundamentally alter the change of FIFA structure. Possible reforms include - come and join me a

the Super Screens and you'll see exactly what those reforms are.

So, FIFA's going to change. They will be revealing the salaries of the FIFA president and the executive committee. Some would say it's

extraordinary that those haven't been revealed already.

There'll be term limits proposed for the president and committee members. Blatter said in his resignation that he had been calling for term limits

for some time but had never managed to get this through.

And there will be changing of the election process itself. But these changes, as all the sponsors say, are only the beginning of what's going to

be a long and painful process to rebuild the reputation.

Samuel Burke now reports from London.

(BEGIN VIDEOCLIP)

SEPP BLATTER, FORMER FIFA PRESIDENT: Let's go, FIFA, let's go, FIFA. Thank you. Thank you.

SAMUEL BURKE, CNN BUSINESS CORRESPONDENT: What a difference a week makes. Just last week FIFA had an estimated brand value of more than $3 billion.

Seven days later, nearly a half billion dollars wiped away and it's expected to keep falling.

Now FIFA may even have to consider changing to a completely new name some brand experts say. Others believe Sepp Blatter's plans to resign may have

just averted FIFA from destruction.

DAVID HAIGH, FOUNDER AND CEO, BRAND FINANCE: I think it's just pulled it back from the precipice. I think if they had continued the way they were

going, the whole organization might well have been boycotted, it might well have collapsed like a house of cards.

By removing himself, he's given it a chance to survive.

BURKE: In spite of the arrests and criminal allegations hanging over FIFA, it is a brand that's been around for a remarkable 111 years. And brand

experts say it's revered by many around the world at least for now.

FIFA is far from out of the woods. In order to maintain its brand value, industry observers say it must become more transparent and open up its

books.

DAMIAN COLLINS, MEMBER OF U.K. PARLIAMENT: We need an external body, an independent body to come in now and audit FIFA, to investigate without fear

or favor and really clear the decks.

There is a danger now that the old guard at FIFA may be trying to rally `round each other, hope that they can dictate the terms of the reform

process themselves and any investigations that are done and then put one of their own people in Sepp Blatter's place.

BURKE: They key question the FIFA brand faces now is who will take the helm and if that person can lead the organization to reform. Because when

Sepp Blatter steps down, a leader will have to step up and rebuild the FIFA brand.

Samuel Burke, CNN London.

(END VIDEOCLIP)

[16:40:01] QUEST: So from soccer to football - well, American football. Fans of American football will soon be able to watch it in a way that's

never been tried before.

This year's NFL game in London between the Buffalo Bills and the Jacksonville Jaguars will be streamed online by Yahoo!. Senior media

correspondent Brian Stelter is with me now.

Now, why, why has - I mean -- I can see why Yahoo! has done this.

BRIAN STELTER, CNN SENIOR MEDIA CORRESPONDENT: Right, right.

QUEST: I mean obviously this is going to be a great boon for them, but why would the NFL go down the Yahoo! route?

STELTER: (LAUGHTER). Well every big technology company whether it's Yahoo! or Google, all of these big companies would love to be in business

with the NFL. So this is sort of a test. This is the NFL putting its toe in that water, trying out the internet, creating even more bidders for

their valuable TV rights.

QUEST: Right, but in terms of the actual season, in terms of for the main games -

STELTER: Ah, well you know they're giving away one game - well I shouldn't say giving away - they're selling one game for now -

QUEST: Do you know how much they're paying?

STELTER: -- at least $10 million, probably a lot more than that, just for a single game. And this is a game between two teams that aren't going to

the Super Bowl -- the Buffalo Bills and the Jacksonville Jaguars. Still, their rights are valuable enough for Yahoo! to try this out. And it's

special because, a) the game's going to be free, you don't have to pay to watch it, and b) you can watch it all around the world.

So it's a real experiment for the NFL to see if they can expand their worldwide fan base.

QUEST: But - OK, so but there are multiple parties that are interested beside fans and these. You've got Yahoo! in the digital side of it.

STELTER: Yes.

QUEST: You've got the NFL and the sports owners themselves.

STELTER: Right.

QUEST: And you've got the broadcast or the cable organizations - networks - that must be terrified by this. Or not?

STELTER: Well, CBS, NBC, Fox - they pay billions of dollars for the rights to hundreds of games.

QUEST: Our own TBS.

STELTER: That's right -

(CROSS TALK)

STELTER: You know these contracts go for at least five more years, in most cases ten years. But there are windows where Google, Yahoo! and other

companies can start to bid. For NFL it's good, right? It's all better because it creates even more bidders for their valuable games.

QUEST: Is it your feeling that this is a brick in the wall? Around the wall? You know what I mean. The brick's about to fall out of the wall.

STELTER: I think it's going to take a while for this particular wall to fall down because the conners (ph) are so long and TV is so strong. That

said, this is a glimpse of the future. People want to be able to stream everything, especially outside the United States where it's not quite as

easy to find NFL games all the time.

This is clearly a glimpse into a more global NFL.

QUEST: You can plead the fifth amendment to this question -

STELTER: Oh no.

QUEST: -- have you ever borrowed, stolen anything from a hotel bedroom.

STELTER: Oh, oh my goodness. Of course.

QUEST: Thank you. (RINGS BELL). When we come back, the travelers who bring home souvenirs. Souvenirs.

STELTER: Souvenirs.

QUEST: The cities they've visited have bring home souvenirs from the hotels where they've stayed. You'll be pilfering guests after the break.

(COMMERCIAL BREAK)

[16:45:08] QUEST: Ah, and welcome to the Hotel du Quest, you're most welcome indeed. Can I show you to your room? Just don't take everything

in it. A new study shows that what most is stolen from hotel rooms. The study was by hotels.com. It studied nearly 5,000 guests across 28

countries and these were the most purloined pieces in the world.

Well first of all, toiletries. Now, they didn't really include any toiletries because apparently we all take toiletries, we take more

toiletries than we know what to do with. So what do we take? We take stationery, we take the pads, we take the note paper, we take the pens. It

doesn't matter how cheap and nasty.

Everybody has said - 20 percent say they'd nicked pens and paper. And we love to take the slippers. Absolutely. Twelve percent of us say we take

the slippers when we leave the hotel.

This is the most extraordinary part. Apparently 10 percent of us say we take the key cards from the hotel. I have absolutely no idea why anybody

would want to take those. Which country takes the most thefts or steals the most? It's Argentina. Seventy-three percent of those surveyed say

they have made off with something that's at least that.

The country with the least thefts of all - that is Colombia. When we come back, I shall of course - I'm only borrowing this. Rather nice. Just

borrowing it, you understand. Add it to the bill, absolutely. Look, it's a very nice feel and quality. OPEC is next on "Quest Means Business."

(COMMERCIAL BREAK)

QUEST: As OPEC nations prepare to meet in Vienna, this week we're looking at the showdown between oil-producing nations in volatile markets.

Friday's meeting where Iraq and Venezuela announced $75 to $80 a barrel will be a fair price for oil that would let producers break even.

Bear in mind the price is barely $60. Well even at those higher prices, few members could make real money. Brent is currently at $64 a barrel.

(RINGS BELL). Break-even prices for various countries well above. So look who needs what.

Venezuela needs $118, Saudi Arabia needs $104, UAE needs $81 and Qatar needs $76. Those are prices that are as against their budget deficits and

their budget spending - not as against the cost of production out the ground. If you take Saudi for example, the production out the ground is

just barely, I don't know, a matter of dollars per barrel.

Patrick Pouyanne is the chief exec of the French oil giant Total. He says the company can work with OPEC producers who are willing to live with lower

prices. John Defterios asked him if the latest recovery is sustainable.

(BEGIN VIDEOCLIP)

PATRICK POUYANNE, CEO, TOTAL: I mean, it's difficult to guess exactly. You know, these markets dropped for fundamental reasons. You have too much

supply, not enough demand.

[16:50:01] So we saw a drop in the market and the OPEC decided not to intervene, down to $45, then this is the beginning of a reaction,

particularly in the U.S. where we have quite a lot of demobilizations of rigs there. Specific (inaudible) not as yet an impact on the production.

In 2015 still, the production and the supply will still be higher than the demand. So we still have inventory slowing in 2015. So at the same time,

you know, price of oil is not only a question of supply and demand. It's also a question of - what you say - the risk premium, geopolitical risks.

And from that point of view I've seen and I think that in particular in the Middle East, the situation is going into (ph) turmoil.

JOHN DEFTERIOS, CNN EMERGING MARKETS EDITOR: It's amazing you bring up the risk premium. Everybody seems to be factoring in normality because of what

we see in Iraq, Syria, Libya. Are we discounting too much the risk that's there?

POUYANNE: I don't know but I think maybe it's imbedded in the price. Remember, the price went down to $45 per barrel. By that time, you know,

experts - I don't know who are the experts - begin to say maybe it could be getting lower and then it's recovered by 50 percent - from $45 to $65 at

the period of where we see a lot of geopolitical events as well.

So, it's difficult to know what is really - there is no normal price. Forget that notion. Very surprised by markets, they react to market supply

and demand and they react also to (inaudible) events.

DEFTERIOS: The other thing I wanted to talk to you about is this position by the Gulf producers - flat out production. Everybody in OPEC's going as

heavy as they can, but they don't seem to care about the price. They want to maintain that market.

POUYANNE: I mean, you know OPEC today is selfish (ph). Why? Once you have invested, you want to produce it as soon as your cash costs are

covered by the price. You produce because you want the cash to come in. So the real - what is important -- risk to observe is the decisions for

investment for the future. And what I observe is that since the last six months, you do not have many big projects which have been sanctioned by any

company in the world.

And this will have an impact on the supply, not tomorrow but from 2017, 2018. And this is today what is important. We do not take any big

decision of investment these days. This should have an impact on the supply and then supplies could rebound.

DEFTERIOS: Final point here though. The Gulf producers - you landed a big contract in Abu Dhabi in the UAE. They're pushing ahead on their projects.

POUYANNE: You know, the Gulf producers - it's the lowest cost mount (ph) barrel. So we are interested to be in a part of the world where we could

produce low-cost barrels. Would have be as ambition we are pushing and we are very happy and proud to have been selected against some fierce

competition as being the main player in Abu Dhabi.

(END VIDEOCLIP)

QUEST: The get the idea of the situation. Well even in this uncertain market, Western companies are keeping close ties to the Gulf Producers.

And some OPEC member states may like to see a cut in oil production to boost the price. But the gas and oil giants are lining up to make sure

that doesn't happen. No cuts for the Gulf as John Defterios reports.

(BEGIN VIDEOCLIP)

DEFTERIOS: This is what a high price of oil can buy a big Gulf producer like the UAE - a giant export terminal to serve key clients. Fujairah sits

just south of the fabled Strait of Hormuz, a body of water which sees one- fifth of the world's oil pass through each day.

SIAVASH ALISHAHPOUR, MD, VTTI FUJAIRAH: Fujairah is sending products of the Gulf countries toward the east whether it's going directly to China or

trans-shipment from Singapore to other places.

DEFTERIOS: From the control rooms of the UAE to the loading terminals in Saudi Arabia, it's a battle to protect OPEC's market share by forcing

others, especially U.S. frackers to live with lower prices.

Saudi Arabia's veteran oil minister led the charge back in November and hammered home the point three weeks later.

ALI AL-NAIMI, ENERGY MINISTER, SAUDI ARABIA: We're not going to cut. Certainly Saudi Arabia's not going to cut.

DEFTERIOS: And this is a position you'll hold for, what, the first six months of 2015?

AL-NAIMI: The position will hold forever.

DEFTERIOS: Forever is a long time, but after discovering oil nearly eight decades ago, the kingdom's mission is clear - protecting its legacy. Oil

producers on the Arabian Peninsula are taking advantage of their low-cost production. Ten dollars or less to outmaneuver rivals. At an oil price of

$60, they can still make $50 to $58 a barrel.

But after oil averaged $100 a barrel for five years, the Gulf States have amassed $2.4 trillion in savings. Nureddin Sehweil is an oil services CEO

based in the UAE since 1979.

NUREDDIN SEHWEIL, CEO, UNI-ARAB OIL SERVICES: We do have a great advantage over many nations, neighbors and even others - black in Africa for instance

or in South America.

[16:55:00] DEFTERIOS: Raising the stakes even further, OPEC crude is going into storage tanks like this one as the 12-nation group produces well above

its quota - a necessary measure to ward off any new competitors.

The U.S. shale producers are an external force against the Gulf players of OPEC but just over 100 nautical miles away, Iran was to tap the second

largest proven reserves in the Middle East at over 150 billion barrels.

If the P5+1 talks are a success, Iran could reenter the game in a big way, adding another 1 and 1/2 barrels a day.

STEVE BRANN, MO, VITOL DUBAI: If OPEC retains its current strategy and if Iran ramps up its production and if some of the other producers in West

Africa and other places continue to produce, I can't see $100 oil anytime soon.

DEFTERIOS: And that seems just fine for those sitting on the largest oil fields in the Gulf who are prepared to keep pumping to retain their title

as oil super giants. John Defterios, CNN Fujairah in the UAE.

(END VIDEOCLIP)

QUEST: And we'll have a "Profitable Moment" after the break. (RINGS BELL).

(COMMERCIAL BREAK)

QUEST: Tonight's "Profitable Moment." We've all done it - taken the shampoos, the soaps, little knickknacks from the hotel bedroom. My

personal favorite is to take their hangers - those nice robust wooden ones. So much so that many hotels now have horrible little bubbles instead of a

proper hook.

But the best examples - well those people - some people have even taken things like the toilets, the duvets, the curtains. I've heard many

examples. And all in all, well, what's wrong with taking the shampoo, the conditioner, oh, and a bit of soap.

And that's "Quest Means Business" for tonight. I'm Richard Quest in New York. Whatever you're up to in the hours ahead, (RINGS BELL) I hope it's

profitable. Good night.

END