Tuesday, 21 January 2014 00:01
REUTERS: Credit card company Visa has become the fifth major company to extend its World Cup sponsorship until 2022, FIFA said on Tuesday.
Visa, which is also an Olympic sponsor, became a FIFA partner in the run-up to the 2010 World Cup.
It replaced rival MasterCard which won a $ 90 million legal settlement from soccer’s ruling body FIFA after claiming it should have been given first refusal on a new deal.
Financial terms of the new contract with Visa were not disclosed. It will cover the 2018 World Cup in Russia and the tournament four years later in Qatar.
“Our association with the FIFA World Cup and the entire portfolio of FIFA events differentiates our brand and allows us to offer unique opportunities to our clients around the world,” said Ricardo Fort who is responsible for global sponsorship and marketing at Visa.
MasterCard remains involved in soccer sponsorship through the European Champions League.
German sportswear company Adidas has signed up as a FIFA sponsor until 2030 while Coca-Cola, Hyundai-Kia and Anheuser-Busch InBev have renewed until 2022.
FIFA generated $ 370 million from marketing in 2012, out of total revenues of $ 1.166 billion.