International

Hyundai watching FIFA closely

2015-05-29 08:09
Hyundai (Supplied)

Seoul - Major FIFA corporate sponsor Hyundai Motor said they are "extremely concerned" by the corruption scandal engulfing world football's governing body and are following events "closely."

The South Korean carmaker, which with affiliate Kia Motors makes up the world's fifth largest auto group, signed up in 2010 to become FIFA's official automotive partner until 2022.

Hyundai-Kia is a presenting sponsor for the 2018 World Cup tournament in Russia, along with the likes of Adidas, Coca-Cola, Visa, Budweiser and McDonald's.

But after seven FIFA officials were arrested in Switzerland for bribery, Hyundai and Kia released identical statements that suggested a review of the sponsorship deal.

"As a company that places the highest priority on ethical standards and transparency, Hyundai Motor is extremely concerned about the legal proceedings being taken against FIFA executives and will continue to monitor the situation closely," the Hyundai statement said.

The arrests came as part of a US Justice Department case that named nine officials of football's governing body, and five sports marketing officials, in a number of instances of bribes and kickbacks involving sponsorships over the past two decades.

NEXT ON SPORT24X

What To Read Next

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Live scoring

 
 
Men
Women
Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

The 2017/18 Absa Premiership season is under way. Can Bidvest Wits defend their title? Will Soweto giants Kaizer Chiefs or Orlando Pirates emerge victorious? Or will the bookies' favourites, Mamelodi Sundowns, taste success for a record eighth time? Stay glued to Sport24 to find out!

Latest blogs
Vote

Do you think SAFA made the right choice in appointing Stuart Baxter as head coach of Bafana Bafana?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.