N/APosted on - 11/27/2014
Sony is rated the second top sponsor of FIFA World Cup among the top-tier sponsors. Sony had its contract signed for eight years by paying 33 billion yen. (approx. $280 million). What is the real reason behind Sony quit from sponsorship? Is Sony not renewing its sponsorship of FIFA World Cup, Why?
Is Sony not renewing its sponsorship of FIFA World Cup, Why?
I guess it is not only Sony who will end its contract as FIFA sponsor, Emirates also quits the sponsorship. According to the ruling football body, the Dubai-based Emirates will no longer renew their contract as a top FIFA sponsor by the end of this year, 2014. And they also said Sony, the Japanese electronics company, may also quit.
FIFA said Emirates had already informed them as early as 2012 that they are “restructuring” their sponsoring concept. According to Der Spiegel, a German news magazine, Sony would also not renew their 8-year contract which will expire on December 31, 2014. FIFA said they are in ongoing talks with Sony.
Sony and Emirates are 2 of the 6 so-called Official Partners of FIFA, the top tier of sponsorship. According to Der Spiegel, the Sony contract was worth $300 million while the Emirates was $200 million. The rest of the 6 sponsors are Adidas, Coca Cola, Visa, and Hyundai/Kia. The reason why Emirates ended its contract is because of FIFA’s corruption allegations.