Thursday 28th June 2007
Credit card giants Visa announced today that it has reached a deal with Fifa to sponsor 2010 and 2014 world cup, which is said to be worth a reported $170 million (£85m).
Rival firm MasterCard has sponsored the world cup since 1990 and the company believed that it had first refusal to the next two world cups, a deal that would span 8 years.
MasterCard is known to have taken legal action against FIFA arguing that the deal with Visa conflicted their original agreement. Visa has reportedly made a pay out in the region of $90 million to settle the dispute.
Visa already sponsors the Olympic games and the Rugby World Cup and spokesman John Elkins executive vice president at Visa International says, “We look forward to activating our FIFA partnership".
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