Sony World Cup - Earlier this month, Emirates Airlines has ended its relationship with FIFA after the company announced their plan not to renew the contract with the world soccer's governing body. Following their move is the word came Tuesday that Japanese electronics manufacturer, Sony Corp. won't also renew its contract.
Amidst the increasing trepidations about the bidding process transparency for the next FIFA World Cup 2018 and 2022 tournaments, a source familiar with the matter revealed on Tuesday that Sony Corp. decided not to renew its sponsorship contract with FIFA. As reported by The Wall Street Journal, Sony's contract as one of the six FIFA official partners will expire at the end of the year.
Sony Corp. has been a FIFA World Cup sponsor for eight years in a contract worth $280 million. The reason for the decision as reported by The Independent UK, is that the renowned Japanese electronics maker was aiming to restructure its television and mobile divisions further. The company is also aiming a strong growth for its electronics devices division that houses its rising image devices business.
On the other hand, McDonalds confirmed that they will be monitoring the controversy that surrounded the governing body for soccer's decision on the bidding process for the 2018 and 2022 tournaments. While, Adidas stated they will speak directly to FIFA to discuss the current concerns about the alleged corruption.
Meanwhile, Coca Cola, one of FIFA's most high-profile sponsor said they were disappointed by the contradictory statement from FIFA's German ethics judge Hans-Joachim Eckert and American lawyer Michael Garcia.
"Anything that detracts from the mission and ideals of the FIFA World Cup is a concern to us," Coca Cola said through The Sunday Times. "The current conflicting perspectives regarding the investigation are disappointing. Our expectation is that this will be resolved quickly in a transparent and efficient manner."
Sony's alleged decision to no longer be a FIFA World Cup sponsor came after the controversies of bribery accusations and other misconducts by the governing body.
"[Sony] was also concerned about the possible negative implications of further associations with FIFA," a source said in a NASDAQ report.
A FIFA spokesperson also confirmed Sony's World Cup sponsorship will expire by the end of this year, as reported by The Washington Post.
"The existing contract with Sony runs until Dec. 31, 2014 and we are currently in discussions with the brand," the spokesman said.
For every four-year World Cup cycle, The Guardian reported FIFA receives $1.4 billion from its six official partners. Along with Sony Corp. and Emirates Airlines, other FIFA World Cup sponsors also include Adidas, Hyundai or KIA Motors, Coca Cola and VISA.
