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Visa now the official sponsor of the next two World Cups
FIFA & UEFA - 29 June, 2007
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After MasterCard and FIFA settled their lawsuit, Visa International announced it will sponsor the 2010 and 2014 World Cup for USD 170 million, down USD 10 million from its original bid.
FIFA and MasterCard had a USD 90 million settlement on June 21, which came from MasterCard's 16 years of sponsorship of World Cups. The company claimed it had the right of first refusal on World Cup sponsorship deals.
At the time of the settlement MasterCard said it decided to settle for business reasons and that it no longer wanted to work with FIFA.
FIFA and MasterCard had a USD 90 million settlement on June 21, which came from MasterCard's 16 years of sponsorship of World Cups. The company claimed it had the right of first refusal on World Cup sponsorship deals.
At the time of the settlement MasterCard said it decided to settle for business reasons and that it no longer wanted to work with FIFA.
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