FIFA’s ethics committee has donated 48 luxury watches it recovered from soccer officials to a non-profit organisation.

During a FIFA congress on the eve of last year’s World Cup in Brazil, the Brazilian confederation (CBF) distributed gift bags with the watches to officials including members of FIFA’s executive committee.

The CBF initially said the Parmigiani watches were given to a group of 65 officials but the investigatory chamber of the ethics committee said it found evidence that several of them did not receive the watch.

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After ruling they were unauthorised gifts, the investigatory chamber of the committee decided against opening disciplinary proceedings against the officials who had received the watch, on the condition that they returned it.

“After contacting all potential recipients, 48 watches were returned to the investigatory chamber of the ethics committee,” FIFA said in a statement, without mentioning if some of the watches were still missing.

FIFA earlier said the Brazilians obtained the watches from sponsor Parmigiani for $US8,750 ($A12,000) each.

But an appraisal found the watches had a market value of $US26,600 ($A36,700).

The watches will be given to an organisation named streetfootballworld, “who will directly invest all resources generated through the sale of the watches into initiatives across Brazil that use football to drive social change.

“The investigatory chamber of the ethics committee considers the matter to be closed,” FIFA said.