Major brands are, in the light of the Fifa scandal, threatening to pull their sponsorships of events staged by soccer’s international governing body.
Sponsorship involves paying money to an event or organisation (typically in sport, arts, entertainment or causes) in return for the right to exploit the marketing potential of that event.
Sponsors hope to increase awareness of their brands and tendency to buy their products or services.
In the audio below (scroll down), Branding and Advertising expert Andy Rice discusses sponsorships and whether or not they work. He specifically references the Fifa scandal and the shocking announcement by Sepp Blatter that he won’t stand for re-election.
Sponsorships work best when there’s a meeting of commercial and sporting minds, and if it’s done well.— Andy Rice (branding and advertising expert )
The six large bankrollers of Fifa are Coca-Cola, Adidas, McDonalds, Budweiser and Hyundai. All of them have released concerned sounding press releases in the wake of the Fifa scandal. Sponsors are saying to Fifa ‘you better clean up your act’.— Andy Rice (branding and advertising expert )
Sponsoring an event is deemed to be less risky than sponsoring a team or an individual. It’s clearly no longer that easy.— Andy Rice (branding and advertising expert )