Sixteen months before FIFA World Cup in Russia, corporate sponsors are not "in a rush to have their names attached" to the event, according to Tariq Panja of BLOOMBERG. FIFA has "signed just one new top-tier level partner, China’s Wanda Group, since the last tournament in Brazil." Only Moscow-based Alfa Bank has "agreed to be a regional World Cup supporter." By the same stage in the tournament cycle for Brazil, "almost all the agreements were concluded." Lagardère CEO Andrew Georgiou said that reasons behind companies’ "reluctance to sign" may include the $150M cost of the most expensive deal and the "fallout" from FIFA’s '15 corruption scandal (BLOOMBERG NEWS, 2/20).
GALAXY NOTE: PyeongChang Organizing Committee President & CEO Lee Hee-beom said that he "didn't think a recent scandal at Olympic sponsor Samsung will impact" the '18 Games. A South Korean court has "approved the arrest of a billionaire heir to Samsung accused of bribery and other charges in connection to a massive corruption scandal that engulfed the president and riveted the nation." Lee: "Even with the recent scandal, I don't think (the Olympic sponsorship) will be affected. We already have the agreements, and Samsung has already donated and has agreed to sponsor (the Olympics)" (AP, 2/21).
