Michel Platini
Platini confirms he is out of the running for February's election.Getty Images

Suspended Uefa president Michel Platini has withdrawn from the Fifa presidential race. Platini has informed Associated Press he has given up on his bid because he does not have enough time to push ahead with a credible bid ahead of the election on 26 February.

"I'm withdrawing from the race for Fifa presidency," Platini told the Associated Press. "The timing is not good for me. I don't have the means to fight on equal terms with the other candidates.

"I have not been given the chance to play the game. Bye bye Fifa, bye bye Fifa presidency."

Platini and outgoing president Sepp Blatter were banned from all football activity for eight years by Fifa's ethics committee in December. Both were found guilty of breaking Fifa's code of conduct regarding a £1.3m ($2m) payment made to the Frenchman in 2011.

The former Juventus player insists he will continue to appeal against his ban and will take his case to the Court of Arbitration for Sport.

"I've spent more time in hearing rooms than on football pitches speaking about 4-3-3 or 4-4-2 or football news,'' said Platini. "I'm taking this philosophically, let's wait and see what happens. But injustice is revolting me and I'm trying to fight it."