FIFA next month will meet with its top sponsors "after three of them increased pressure for major reforms to soccer's governing body following a series of corruption scandals," according to Brian Homewood of REUTERS. FIFA Secretary General Jerome Valcke said that Coca-Cola, Visa and McDonald's had "written asking for information about what was being done to clean up the governance of the sport and admitted that the situation made it difficult to attract new sponsors." Valcke said, "Two or three days ago we received a letter from all of them offering to meet together, so there will ... be a meeting next month" (REUTERS, 7/24). Visa CEO Charlie Scharf on a conference call Thursday said that he has been "unimpressed with FIFA's slow-moving efforts and called for an independent, third-party reform commission." Scharf also said Visa believes "no meaningful reform can be made under FIFA's current leadership." Scharf: "We view the stewardship of our company, our brand, and our clients with the utmost importance and try to hold ourselves to the highest standards. We seek to partner with those who think and act like us. I don't believe that FIFA is living up to these standards. Furthermore, their subsequent responses are wholly inadequate and continue to show its lack of awareness of the seriousness of the changes which are needed" (USA TODAY, 7/24). The FINANCIAL TIMES' Ben McLannahan notes the Visa's new stance "marks a significant toughening of its position since last month" (FINANCIAL TIMES, 7/24).
FIFA NOT FINDING NEW PARTNERS: The AP's Graham Dunbar noted the FIFA corruption crisis is "hurting its search for new World Cup sponsors." Targeting almost $6B in revenue from the '18 tournament in Russia, FIFA has "not signed any new sponsors" since the end of the Brazil World Cup last summer. Valcke said, "Definitely the current situation does not help to finalize any new agreement. That is a fact." He added there likely "will not be major announcements" until the election to replace FIFA President Sepp Blatter is held next February. Dunbar notes only seven of 14 available positions in the top two sponsor categories "have been filled, and none of the 20 slots in a new regional category designed to increase revenue" from the '10-14 tournament cycle (AP, 7/24).
