Thursday, December 07, 2006

Mastercard smacks FIFA down

It looks like Mastercard might get the chance to sponsor the 2010 and 2014 World Cups after a New York judge ruled against FIFA.

Mastercard was the sponsor of the 2006 final and, under Swiss contract law, should have had the right of first refusal for '10 and '14. However, FIFA decided to go with Visa as the sponsor without giving Mastercard their chance.

FIFA has said they will appeal the verdict, but it really doesn't look like they have much of a case. I mean it really is a simple case when you look at it. Party A was suppose to allow party B the chance to obtain object 1 before anyone else. If party B decided against it, party A could move on to party C. Instead, party A went right to C, ignoring anything B wanted.

By the way, Visa has stated that they thought they were talking with FIFA in good faith saying that FIFA assured them that the deal was valid and binding and did not conflict with any of MasterCard's rights.

This falls right into the lap of Sepp Blatter. He decided trying to get a few extra millions was more important then obeying the law. Is this a shock to anyone?

Let anyone who does business with Blatter's FIFA be warned, promises don't seem to mean much.

1 Comments:

Anonymous Anonymous said...

^^ nice blog!! ^@^

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