Visa has confirmed it has signed an eight-year deal as the new financial services partner of football's world governing body FIFA. A statement from Visa's corporate relations vice-president Mike Sherman said the contract would run from January 2007 to 2014 and Visa was taking the place of MasterCard.
"We are delighted to confirm that Visa has signed an eight-year partnership agreement with FIFA and will become one of six FIFA partners with global rights to a broad range of FIFA activities, including the FIFA World Cup and the FIFA Women's World Cup," the statement said.
Visa, which also has marketing programmes with the Olympic Games and the Rugby World Cup, gave no financial details in the statement. Sources told Reuters on Wednesday it was worth up to 200 million pounds ($350.4 million).
The agreement will cover the next two World Cups, in 2010 in South Africa and in 2014 and places Visa alongside Coca-Cola, Hyundai, Adidas and Sony who have already signed up as official partners with FIFA.
UPDATE
"This new sponsorship gives Visa Asia Pacific yet another exciting opportunity to draw even closer together, this hugely popular sport and its growing number of supporters the world over – cutting across all age, gender, ethnic groups and countries. Working with our member banks, Visa Asia Pacific will be able to offer exciting programs and promotions to its cardholders through this alliance with FIFA, thereby boosting tourism revenues and stimulating the retail and travel industries at the competition venues,” Rajiv Kapoor, Visa Asia Pacific’s Executive Vice President and General Manager for Marketing, said in a statement (10 April).
"We are delighted to confirm that Visa has signed an eight-year partnership agreement with FIFA and will become one of six FIFA partners with global rights to a broad range of FIFA activities, including the FIFA World Cup and the FIFA Women's World Cup," the statement said.
Visa, which also has marketing programmes with the Olympic Games and the Rugby World Cup, gave no financial details in the statement. Sources told Reuters on Wednesday it was worth up to 200 million pounds ($350.4 million).
The agreement will cover the next two World Cups, in 2010 in South Africa and in 2014 and places Visa alongside Coca-Cola, Hyundai, Adidas and Sony who have already signed up as official partners with FIFA.
UPDATE
"This new sponsorship gives Visa Asia Pacific yet another exciting opportunity to draw even closer together, this hugely popular sport and its growing number of supporters the world over – cutting across all age, gender, ethnic groups and countries. Working with our member banks, Visa Asia Pacific will be able to offer exciting programs and promotions to its cardholders through this alliance with FIFA, thereby boosting tourism revenues and stimulating the retail and travel industries at the competition venues,” Rajiv Kapoor, Visa Asia Pacific’s Executive Vice President and General Manager for Marketing, said in a statement (10 April).
See also: Visa may take MasterCard's Work Cup exclusive (5 Apr) and Follow the money to World Cup ticketing (30 Mar) and Man-United-branded Barclaycard charges into Asia (22 Mar)