International

Sony to end FIFA sponsorship

2014-11-25 08:36
FIFA (AFP)

Tokyo -  Sony Corp does not plan to renew its sponsorship contract with FIFA, the governing body for world soccer, as the Japanese electronics maker needs to prioritise its restructuring efforts, people familiar with the matter told Reuters.

Such a move would follow Emirates Airline's announcement this month that it was ending its sponsorship of FIFA, a blow to the governing body as it investigates whether there was corruption in the bidding process for the next two World Cup competitions.

Sony has been a FIFA sponsor for the eight years to 2014 in a contract worth $280 million.

Sony on Tuesday said it was aiming to restructure its TV and mobile divisions further while targeting robust growth for its electronics devices division, which houses its growing image sensors business.

An official for the electronics conglomerate said he could not comment on future contracts.

The people familiar with the matter declined to be identified as they were not authorised to speak to the media.

Read more on:    sony corp  |  fifa  |  soccer
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