Monday, 2 July 2007

FIFA's resolves sponsorship issue

Even the high and might do get their strokes at times. FIFA has been having a few problems internally with one of its main sponsors MasterCard Visa. This follows MasterCard having sued FIFA in April 2006 after it awarded the coveted sponsorship for the next two World Cups to Visa. MasterCard claimed it had the right of first refusal on future sponsorship of the tournament, the world's most watched sports event.At the time of the settlement MasterCard said it decided to settle for business reasons and that it no longer wanted to work with FIFA.

Visa International has then reached a deal with to sponsor the 2010 and 2014 World Cup football tournaments.Visa said the 8-year deal with the sport's governing body FIFA allowed it access to competitions, special events and development programmes worldwide.The deal between Visa and FIFA follows a $90m settlement on June 21 of a legal battle between FIFA and Visa rival MasterCard, which had sponsored the tournament for 16 years.
I keep telling you guys, sports now is the next big thing. Look at the cut-throat competition that companies have to be identified with ONLY one sport ? As for FIFA, I don't know what to say...more $$$ more problems !

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