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MasterCard, FIFA Agree To A Draw

MasterCard will discontinue its sponsorship of the World Cup for 2010 and 2014. The world's governing body for soccer--Fédération Internationale de Football Association (FIFA)--will pay the credit-card company $90 million to resolve all disputes between the parties.

MasterCard sued FIFA last year after it awarded the sponsorship to rival Visa International. In December, a federal judge found that FIFA had breached its 2002 agreement with MasterCard. In May, an appeals court vacated the judge's decision, pending further review.

MasterCard had sponsored the tournament--one of the world's most-viewed sporting events--since 1990. CMO Larry Flanagan says the settlement gives MasterCard "the flexibility of not being locked in a four-year cycle."

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