Court Vacates Ruling In MasterCard/Visa Flap Over FIFA Rights
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Judge Vacates Ruling Granting
MasterCard World Cup Sponsorship
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The 2nd Circuit Court of Appeals on Friday vacated a ruling by U.S. District Judge Loretta Preska that granted MasterCard sponsorship rights to the FIFA World Cup through 2014, according to Chad Bray of the WALL STREET JOURNAL. The court remanded the case to Preska, asking the judge to “clarify if a 2002 agreement between [FIFA] and MasterCard was binding or if a March 2006 agreement that MasterCard signed and returned to FIFA supersedes the prior pact.” In December, Preska ruled that FIFA breached its ’02 agreement with MasterCard when it awarded Visa the sponsorship last year. MasterCard, a World Cup sponsor since ’90, sued FIFA last year, “claiming it has a right of first refusal under the 2002 agreement.” Visa VP/Global Communications Michael Sherman reiterated that his company “executed the agreement with FIFA in ‘good faith’ and were assured by FIFA that ‘the agreement was valid and binding and did not conflict with any of MasterCard’s rights’” (WSJ.com, 5/28).
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