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Sony not to renew sponsrship contract with FIFA

Sony not to renew sponsrship contract with FIFA

TOKYO: As the moneylosing firm experiences, Sony not to renew a multi million dollar sponsorship contract with FIFA, a painful restructuring and football’s governing remains involved in controversy.

The eight year Japan’s leading Nikkei business daily said 33 billion yen ($280 million) contract, which expires this year, would not be renegotiated owing to worries that a new deal would be even more costly.

The Nikkei said South Korea’s Samsung is rumoured to be Sony’s successor in the FIFA sponsorship.

As FIFA’s leadership faces a thread of corruption allegations, including questions over the bidding for the 2018 tournament in Russia and the 2022 event in Qatar.

Dubai based airline Emirates decided to end its sponsorship agreement with FIFA, marking a big blow to the embattled organisation. Adidas, Coca-Cola, Hyundai and Visa are among FIFA’s other major sponsors.

Further Sony has been an official sponsor of football’s global governing body at more than 40 tournaments, including the 2010 World Cup in South Africa and this year in Brazil.