He was under investigation by the FBI and tax authorities for millions in unpaid taxes, the newspaper said.
The SFO said last week it does not have the jurisdiction to investigate World Cup bidding but Collins believes the latest reports on the FBI should make it reconsider.
Collins told Press Association Sport: 'If the FBI investigation includes meetings that Chuck Blazer held in London during the Olympics, then that should come under the jurisdiction of the SFO.'
US attorney Michael Garcia has finished his investigation into bidding for the 2018 and 2022 World Cups, won by Russia and Qatar respectively. England also bid for the 2018 tournament but was eliminated in the first round of voting.
Garcia's report is now being studied by the head of FIFA's ethics adjudicatory chamber, German judge Hans-Joachim Eckert, but he has said he will not publish it in full.
