Japanese conglomerate Sony will be ending their sponsorship deal with FIFA, after growing rumors of corruption within the football world governing body.
For the past 8 years, the PlayStation manufacturer has been a sponsorship partner to many of FIFA’s tournaments including the UEFA Champions League and World Cup tournaments. This news comes after a difficult financial year for Sony and reports of possible corruption within FIFA. Now Sony have decided not to renew the $277m deal which expires on the 31st of December 2014.
Sony has stated that the company prefers to spend its money on “completing structural reforms” this fiscal year.
The allegations of corruption within FIFA revolve around the World Cup host bidding process of the 2018 Russia and 2022 Qatar tournaments.
FIFA have already lost Emirates Airline as a flagship sponsor and other sponsorships such as Coca-Cola have also expressed their disappointment by the way they have handled the damning reports of corruption.
A FIFA spokesperson told The Telegraph: “The existing contract with Sony runs until 31 December 2014 and we are currently in discussions with the brand.”