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Senior football official Issa Hayatou has strongly denied bribery claims made in a BBC documentary on Monday.
Mr Hayatou, a vice-president of football's world governing body Fifa, says he is considering legal action.
The BBC's Panorama said he took 100,000 French francs (ÂŁ12,900) in 1995 from sports marketing firm ISL, which was lobbying to gain lucrative Fifa deals.
Mr Hayatou said the money was part of a sponsorship deal for the Confederation of African Football (Caf).
"This money was not for me, it was for the 40th anniversary of Caf," said the Cameroonian, who also heads Caf.
"At that time ISL was the sponsor of Caf and they give the money to Caf and not to me, and the executive committee of Caf accepted it and approved it.
"I have got an appointment with my lawyers, I will talk to them and I will take it from there."
Mr Hayatou was accused by Panorama alongside two other Fifa officials - Nicolas Leoz, from Paraguay, and Ricardo Teixeira, from Brazil.
All three are on the 22-strong panel currently deciding who will host the World Cup in 2018 and 2022.
Earlier, the International Olympic Committee (IOC) also announced it would look into the claims because Mr Hayatou is also an IOC member.
"The IOC has taken note of the allegations made by BBC Panorama and will ask the programme makers to pass on any evidence they may have to the appropriate authorities," it said.
Before Mr Hayatou spoke on the issue, Fifa issued a statement saying the allegations referred to events that had taken place before the year 2000 and had been investigated by the Swiss authorities.
"In its verdict of 26 June 2008, the Criminal Court of Zug had not convicted any Fifa officials," said Fifa, which is based in Switzerland.
"It is therefore important to stress again the fact that no Fifa officials were accused of any criminal offence in these proceedings."
England is competing with Russia, Spain/Portugal and Netherlands/Belgium to host the 2018 tournament.
England's bid team has criticised the BBC's decision to air the programme just three days before the vote is due to take place.
The alleged bribes to the three members of Fifa's executive committee were paid by sports marketing company ISL (International Sport and Leisure) and date from 1989 to 1999, Panorama alleged. The company collapsed in 2001.
Fifa granted ISL exclusive rights to market World Cup tournaments to some of the world's biggest brands, and ISL received millions more from negotiating television broadcast rights.
Source: BBC
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