Long standing FIFA partner Coca-Cola has resolved a legal dispute with the international football governing body to become a sponsor of the revamped FIFA Club World Cup this summer.
Last October, Coca-Cola lodged a legal complaint against FIFA at the Arbitration Centre in Zurich, Switzerland over a belief that the international beverage brand should have Club World Cup sponsorship rights included in its contract.
At the time of the legal dispute, FIFA only had confirmed one sponsor for the Club World Cup set to be held in the US this summer. FIFA reportedly were looking at renegotiating contracts with existing partners for the competition, which left Coca-Cola “less than thrilled”, according to a report from The Guardian.
Coca-Cola has a partnership agreement with FIFA that lasts until 2030, including sponsorship rights for major competitions such as the World Cup. The brand believed that FIFA was prioritising new potential partners over longstanding ones such as Coca-Cola.
Whilst it is still unknown whether Coca-Cola and FIFA have negotiated a new contract to include the Club World Cup or included the competition in its pre-existing deal, the company joins the likes of Bank of America and the Saudi Arabia Public Investment Fund as sponsors of the competition.
Speaking on the Club World Cup sponsorship, Brad Ross, VP of Global Sports, Entertainment Marketing and Partnerships at Coca-Cola, said: “Sports partnerships like the one we have with FIFA are an important growth driver for our company, brands and global system, and the FIFA Club World Cup will be a significant moment to bring the world together through the power of sport.
“Football fans are among the most passionate in the world, and we’re honoured to be part of these moments by refreshing fans and athletes with our portfolio of beverages and providing them with innovative experiences.”
It may come as a relief for FIFA to bring Coca-Cola onboard as a Club World Cup as a sponsoring partner as it has been reported the footballing body was struggling to attract commercial interest in the revamped competition, seeking up to 10 sponsors to accrue upwards of $1bn in revenue.
This may be caused by the backlash associated with the new Club World Cup format, which will feature 32 teams, 12 from Europe, six from South America, four from Africa and Asia each, five from North America and one from Oceania, which starts on 14 June.
Despite securing a global broadcaster in DAZN, club officials and players have criticised the addition of more games in an already congested footballing calendar.
