Scandal Deterring Sponsors, FIFA Admits

FIFA has admitted the corruption scandal is putting off new World Cup sponsors and plans to hold a summit with existing backers in August.
Secretary General, Jerome Valcke, said: “The current situation doesn’t help to finalise any new agreements.”
Earlier, key sponsor Visa lambasted FIFA for a “lack of awareness” of the seriousness of corruption charges.

FIFA said it would set up an 11-strong taskforce to examine the issue of corruption.
The August meeting was first suggested by major sponsors, Mr Valcke said.
“Clearly, there were a number of sponsors, mainly three, Coca-Cola, McDonald’s and Visa, who… sent a letter to FIFA, asking for information,” he told a news conference.
“Two or three days ago we received a letter from all of them offering to meet together, so there will be a meeting next month.”
Visa’s chief executive Charlie Scharf on Thursday expressed his concern over the current situation, telling investors his payments company sought partnerships with those “who think and act like us”.
He said it tried to hold the highest standards, but did not believe FIFA was living up to those.
Visa has been one of the most critical of FIFA’S top sponsors. Nevertheless, such public plain talking is rare.
Coca-Cola and McDonald’s have also been vocal about their concerns.
FIFA’s other key sponsors include Budweiser and Adidas.
Top FIFA officials were arrested earlier this year on charges of racketeering, wire fraud and money laundering as part of a US prosecution that also indicted 14 people.
It sparked the resignation of its president, Sepp Blatter, who announced he intended to leave next year

Comments

Ramadan starts today

About 1.6 billion Muslims across the world will observe a month of fasting and prayers to commemorate the time when the Quran was revealed to Prophet Mohammed on the night of "Laylat Al Qadr". Muslims starts their fast today, and will not eat or drink from dawn to dusk. People wish each other with greetings such as 'Ramadan Mubarak' or 'Ramadan Kareem'. Ramadan begins on Today as the crescent moon, also known as hilal , was not sighted on Tuesday. Fasting during Ramadan is considered to be one of the Five Pillars of Islam.

My Strong will for excellence and family support made me achieve Academic Excellence - Dr Olawunmi Ogunmola

I am starting a series, and this series is me interviewing some people doing great in key areas, I decided to kick start the episode with someone I share a history with because I saw firsthand how she excelled while we were in secondary school, the reason why I am doing this is simple, to help people trace certain things backward and to help them see how some things are predictive. Wunmi and I went to the same secondary school and I can tell you without a doubt, she was very studious, she was a bookworm,, but II also know many bookworms that were not geniuses, so I decided to ask her how she did it. some people say, Hard work , Luck, Heredity , and Prayers, I say, let's hear from the horse's mouth. She was the best-graduating Chemical Engineering student in the year 2008/2009 from Obafemi Awolowo University with a CGPA of 4.88 Check out our Conversation Below Me; Hi Olawunmi, long time, how have you been? Dr. Olawunmi: I am doing great, indeed, it's been a long...

Ice-T and Coco take you on a tour of their cool condo

both love their condo in Edge water, New Jersey, but have very different favorite spaces. “My favorite room of the house is the laundry room,” Austin, tells PEOPLE as she, along with her husband, gave PEOPLE an exclusive tour of their home. “We have our own huge, red washer and dryer and when he’s downstairs playing an Xbox, usually you’ll find me doing the laundry.”

Welcome to Grace Edibo's blog

Search This Blog