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Author Topic: FIFA made to pay in World Cup sponsorship row  (Read 961 times)

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Offline ttcom

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FIFA made to pay in World Cup sponsorship row
« on: June 21, 2007, 06:09:42 PM »
FIFA made to pay in World Cup sponsorship row
 
June 21, 2007
By Martyn Ziegler Special to PA SportsTicker

FIFA has agreed to pay $90 million compensation to sponsor MasterCard for misleading the credit-card giant in negotiations for the 2010 and 2014 World Cups on Thursday.

The huge settlement brings an end to legal action in the United States and Switzerland, and MasterCard's rivals, VISA, will sponsor the next two final tournaments.
 
 
A U.S. court judge said last year that FIFA executives had "lied repeatedly" in negotiations with MasterCard, and in response the game's world governing body sacked four officials. Marketing chief Jerome Valcke has since been reinstated.

"The two parties have reached agreement resolving the contract dispute related to MasterCard's first right to acquire the sponsorship for the 2010 and 2014 FIFA World Cups," FIFA said in a statement.

"As a result of the agreement, MasterCard will discontinue its sponsorship of the 2010 and 2014 FIFA World Cups, with FIFA agreeing to compensate MasterCard for that discontinuation.

"Both parties also agreed to terminate legal proceedings in the U.S. and Switzerland."

MasterCard said in a statement that $87.5 million would be paid by FIFA in the second quarter of this year and $2.5 million in the third quarter.

The firm won a federal court decision against FIFA in December, but an appeal court last month ordered a review of that ruling.

The December court ruling stated "FIFA's negotiators lied repeatedly to MasterCard, including when they assured MasterCard that ... FIFA would not sign a deal for the post-2006 sponsorship rights with anyone else unless it could not reach agreement with MasterCard."

It said the negotiators provided VISA with blow-by-blow updates of the MasterCard negotiations.

The court heard FIFA executives were determined to give the contract to VISA, rather than its current sponsor MasterCard, when both were offering similar amounts of money.

There were also indications of an attempted cover-up with a "mysterious gap" in an audio tape recording of a FIFA executive committee meeting which dealt with the sponsorship decision.

The ruling also suggested someone at FIFA changed the date on contracts given to VISA to make it look as though it had been signed several days earlier.

FIFA lied hmm. I guess Jack had a workshop, to train FIFA heads on lying. ::) ::)
 
Stupidity is an elemental force for which no earthquake is a match."
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Offline Dutty

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Re: FIFA made to pay in World Cup sponsorship row
« Reply #1 on: June 21, 2007, 06:49:41 PM »
Too funny...Fifa executives Lying bold and Teeefin people money

I come to the conclusion Jack just doin de job de way he organization expect him to do it....de mister is ah good worker oui
Little known fact: The online transportation medium called Uber was pioneered in Trinidad & Tobago in the 1960's. It was originally called pullin bull.

Offline weary1969

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Re: FIFA made to pay in World Cup sponsorship row
« Reply #2 on: June 21, 2007, 09:17:15 PM »
If FIFA have to pay then JW do what yuh employers do
Today you're the dog, tomorrow you're the hydrant - so be good to others - it comes back!"

 

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