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

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