Visa has told FIFA that they might end their sponsorship if the soccer’s governing body will no act to get back their reputation after senior officials were got arrested on charges of corruption.
As sponsors went on to show their concern on this issue, Visa’s statement was the strongest. Visa became a partner to FIFA in 2007 and they had recently extended their partnership to 2022. Customers to brands associated with FIFA took to social media threatening to boycott.
Visa said that this was a great disappointment and that FIFA should make swift moves and immediate actions in addressing the issues that are transpiring within the organisation. They pointed out that FIFA should start by building a culture which has strong ethical practises but when it fails to do this, they will have no option but reassess their sponsorship.
The US prosecutors issued an indictment on Wednesday which accused 9 of the officials from FIFA. The indictments included those of 5 sports media and promotions officials involving $150 million in a span of over 24 years.
This indictment included a statement indicating that an apparel company offered to pay $160 million in 1996 for over 10 years as long as they remained the exclusive footwear, accessories and equipment supplier for the Brazilian team. Even though the indictment did not state the company, this might be Nike Inc which is the official sponsors of the Brazilian national team. When Nike was called upon to comment on this, they said that they believe in fair play and transparency in sports and in business. They oppose any kind of manipulation and bribery and are cooperating and will continue to do so until the whole mystery is unravelled.
In November last years, Sony and Emirates Airlines announced that they would not renew their deals with FIFA. Qatar Airways and Samsung are said to be on talks to replace them. Emirates and Sony were the main 6 partners that together paid $177 million in 2014 to access right in advertising in the World Cup stadiums, as well as, use their FIFA trademark.
A source that is familiar to Sony’s decision said that one of the reasons to their withdrawal was suspected corruption but the major issue was on the high cost on the sponsorship deal.
This article is published in: Football Betting, News, Sports Betting
Tags: FIFA, football corruption
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