Visa unveils $170 million deal

Source: Exec Digital USA

Date :6/28/2007 4:07:26 AM

Visa has announced a deal with Fifa to sponsor the 2010 and 2014 World Cup football tournaments.

The eight-year $170 million (£85 million) deal with world governing body Fifa would be useful in "driving business" the credit card firm said.

Visa, which already sponsors the Olympic Games, will pay $10 million less than it had originally bid, Fifa President Joseph Blatter said.

The deal comes after Fifa paid rival credit card firm Mastercard $90 million to settle a bitter sponsorship dispute.

Mastercard has sponsored each World Cup since 1990 and beleived it had first refusal to extend the deal for the 2010 and 2014 tournaments.

It took legal action against Fifa after the organisation struck what it argued was a conflicting deal with Visa.

June 28 2007