What We're Reading
Report: Sony to End FIFA Partnership
- AFP, Tuesday, November 25, 2014 12:27 PM
Japanese consumer electronics giant Sony will become the second official FIFA sponsor to decide not to renew its sponsorship with soccer’s world governing body, AFP reported on Tuesday, as the money-losing firm undergoes a painful restructuring and FIFA remains embroiled in controversy over the awarding of the 2018 and 2022 World Cups to Russia and Qatar, respectively. According to the report, Sony’s eight-year $280 million contract expires this year and will not be renegotiated amid fears that a new deal would be even more costly. South Korean electronics giant Samsung is understood to be close to securing the slot vacated by Sony. Earlier this month, Dubai-based airline Emirates also decided to end its FIFA partnership, claiming that its sponsorship did not meet expectations.
