England's hopes were dealt a blow following allegations Triesman accused the Spanish and Russian football federations of bribery.The 66-year-old, who also vacates the same role with the FA, announced his decision following a hastily-arranged meeting with the FA board at Wembley this afternoon. He was replaced tonight by Geoff Thompson, the British FIFA vice-president.

Coe, chairman of the London 2012 Olympics is on the 2018 bid board, and he and fellow 2012 veteran Sir Keith Mills have spent the weekend formulating a rescue plan.

Coe is understood to have briefed FIFA general secretary Jerome Valcke today and will speak to FIFA president Sepp Blatter about the situation.

Coe told Press Association Sport: "This has been a traumatic 48 hours but this does not become a bad bid overnight.

"Solid foundations are in place, we have the best venues, the most passionate fans, the best market for sponsors and an unparalleled ability to deliver this tournament in safe and secure surroundings.

"The only thing we don't have is the private views of the former chairman."

The FA board meeting was called in the wake of allegations made in the Mail on Sunday, which suggested Triesman told a former aide that Spain were planning to bribe referees at this summer's World Cup and offer their support to Russia's bid for the 2018 World Cup if they were to help.

The England 2018 World Cup bid team faxed letters of apology to both associations this morning as they attempted to minimise the damage caused.FA board members David Sheepshanks and Roger Burden have been drafted in as acting joint chairmen of the FA.

His departure from the FA also comes just two months after Ian Watmore's surprise resignation as their chief executive.

"I have decided to resign as chairman of The FA and the 2018 Bid board," Triesman said in a statement.

"A private conversation with someone whom I thought to be a friend was taped without my knowledge and passed to a national newspaper.

"That same friend has also chosen to greatly exaggerate the extent of our friendship.

"In that conversation I commentated on speculation circulating about conspiracies around the world. Those comments were never intended to be taken seriously as indeed is the case with many private conversations.

"The views expressed were not the views of the 2018 bid board or the FA.

"Nobody should be under any misapprehension that the FA or 2018 bid board are disrespectful of other nations or FIFA and I regret any such inference that may have been drawn from what has been reported.

"Entrapment especially by a friend is an unpleasant experience both for my family and me but it leaves me with no alternative but to resign. I have immediately informed the FA board of my decision.

"I have enjoyed hugely my time at the FA and the bid and feel I accomplished a great deal in areas I love - qualification for the World Cup in South Africa, healthy growth in grass roots, women's and disability football, and changes in the representation of fans who are the lifeblood of English football and the involvement of our diverse communities.

"The 2018 FIFA World Cup Bid has made enormous progress both around the world and in the technical bid in England. I wish everyone associated with FA all the very best for what is a very exciting future for the game we all love."

FIFA are yet to comment on the matter. However, the chief of Russia's bid, Aleksey Sorokin, has called for football's governing body to "take appropriate measures".

"It is a sign that we are going in the right direction, that the quality of our bid leaves no other alternative for our competitors but to bring up these absurd allegations," Sorokin told Sky Sports News.

When asked if they would take up the matter with FIFA, he added: "We haven't had that discussion, we hope that FIFA will take appropriate measures itself without our motions.

"The FA bid enjoys support from the Premier League and Prime Minister David Cameron and new Sports Minister Hugh Robertson this morning welcomed reports that Triesman was to be stood down.

"It's entirely right that he should stand down and that the action should have been taken as quickly as is the case," he told Sky Sports News.

Robertson added that the decision was appropriate given the timing of the allegations.England presented their bid book for the 2018 tournament to FIFA in Zurich on Friday and a decision on who will host the showpiece event is expected in December."It's very sad for him on a personal basis, but I think it's entirely the right decision," Robertson said.

"Clearly the bid is at a crucial stage. The bid book was handed in on Friday, that was judged to be a huge success and clearly today's story is very unwelcome."

A statement tonight from England 2018 read: "Following the unanimous approval of the Football Association Board, Geoff Thompson has tonight been confirmed as the new Chairman of England 2018.

"Thompson, who is a vice-president on both the FIFA and UEFA Executive Committees, is England's most senior international football administrator.

"He was part of the five person delegation which delivered England's Bid Book to FIFA president Sepp Blatter in Zurich on Friday and was chairman of the FA for nine years between 1999 and 2008.

"He will take up his new role with immediate effect."