The 51-year-old was a part of the Revs' 1998 squad and made 18 appearances for the team. His professional career also included stints in Sweden, Belgium, Switzerland and Greece. Most famously, Nakhid captained the Trinidad and Tobago national team.
FIFA, which has repeatedly been exposed for issues of corruption and bribery, will host an emergency presidential election in February. Prince Ali bin al-Hussein of Jordan has also announced his candidacy, while Issa Hayatou is acting as FIFA's interim president during Sepp Blatter's three-month suspension.
In speaking to U.S. News and World Report, Nakhid highlighted how he plans to spread soccer's wealth, particularly away from Europe.
"The global model is untenable, you have a system where all the European countries are going to annihilate the powerhouses of other nations," Nakhid said. "Europe has to be more equitable and more honest in how they handle global football. They have a responsibility.
"Europe still complain they want money for the players who represent (teams) in the World Cup because they have that power," Nakhid added. "They are organized to that extent. But what about the rest of the world...that is marginalized, that is left out. Who presents their case?"