(CNN) -- Asian football chief Mohammed Bin Hammam will be Sepp Blatter's only opponent in the forthcoming FIFA presidential elections, the sport's governing body confirmed on Monday. 

The 75-year-old Blatter, who has held office since 1998, will go head-to-head with the Qatari on June 1 in Zurich, Switzerland. 

Elias Figueroa, a former international defender for Chile, had intended to put himself forward for the role but announced last week there was not enough time for a credible campaign to be launched. 

American journalist Grant Wahl said earlier this year he was hoping to stand, but it was more a ploy to raise awareness about what he called the "need for change" at an organization which has earned $4.189 billion over the last four years than a realistic challenge to Blatter's supremacy. 

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Africa's Issa Hayatou was the last candidate to run against the Swiss when he was defeated in the 2002 ballot, which came after a campaign of accusations of financial mismanagement at FIFA. 

Bin Hammam, a FIFA executive committee member and president of the Asian Football Confederation, told CNN last month that the time had arrived for change in the organization after more than a decade under the stewardship of the Swiss. 

Blatter, who has been involved with FIFA since 1975, announced at a recent UEFA congress in Paris this will be his last term as president if he is elected for another four years at the helm. 

Blatter plans final term as Bin Hammam calls for change 
Who is Elias Figueroa?
lias Figueroa, a former international defender for Chile,