Sponsors are thinking of pulling their ads from FIFA after serious charges are brought against many of the organization’s top officials.
Sponsors including Nike, Coca Cola, and McDonald’s are expressing concerns over the allegations. Hours after a number of senior FIFA officials were arrested in a morning raid in Zurich.
Nike says it’s cooperating with authorities on alleged bribery and corruption at FIFA. The indictment mentions an unnamed sports company, which appears to be Nike.
It claims that in 1996, the sports company agreed to pay a 160 million dollars over ten years to become Brazil’s exclusive supplier, among other payments noted as “marketing fees” sent to an unidentified Swiss bank account.