(MENAFN- Saudi Press Agency) Sony is not planning to renew its sponsorship contract with FIFA when it expires at the end of this year, it was reported in Japan Tuesday.
In view of restructuring by the electronics giant, it is thought unlikely the eight-year deal with football's world governing body will be renewed, Jiji Press news agency reported quoting informed sources.
Sony's contract with FIFA was worth more than 30 billion yen (some 250 million dollars), but has come in for internal review after company losses, dpa reported.
The company booked a loss of 136 billion yen in the July- to-September quarter and is expected to make losses of some 230 billion yen in the current business year to March 31, 2015.
The decision not to renew the contract would make Sony the second major sponsor to end ties with FIFA following Emirates Airline's announcement this month.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.