Around the Net

Visa Snares World Cup Rights

  • AP, Friday, June 29, 2007 11 AM

Visa has snared the global rights to sponsor soccer's 2010 and 2014 World Cups -- after rival MasterCard decided to accept a $90 million settlement and end its involvement with the tournaments. MasterCard and the Federation Internationale de Football Association [FIFA] went to court over the company's right to sponsor the tournaments here in the U.S.

A federal judge ruled last year that FIFA failed to honor its agreements when it awarded sponsorship rights to Visa International. Visa's new deal begins with the 2007 Under-20 World Cup and runs right through the 2014 World Cup. The company will have the rights to a wide array of opportunities, including exclusive marketing assets, competitions and special events.

Read the whole story at AP »

Next story loading loading..