The international football regulator is in dispute with the Asian group, which has reportedly stopped paying the amounts agreed with the organization and for which it has the rank of main partner, along with Adidas, Coca Cola, Visa, Hyundai-Kia and Watar Airways.
The FIFA have a problem. The international football regulator would have stopped activating the giant’s global sponsorship Chinese Wanda, one of its main business partners, for non-payments.
The organizer of the World Cup, among other major events, is immersed in a dispute with Dalian Wanda. The alliance between Wanda, former partner of Atlético de Madrid and naming of the Metropolitano, and FIFA was born in 2016.
The Asian group until now shared the status of main sponsor of FIFA with Adidas, Coca-Cola, Visa, Hyundai-Kia and Qatar Airways.
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The real estate and entertainment giant Wandaowned by tycoon Wang Jianlin, had presented its new sponsorship agreement with FIFA in March 2016, in another step for the Chinese multinational –owner of 20% of the shares of Atlético de Madrid– for being a reference in international sport.
Wang, one of the richest men in China, had reported at that time, in one of his luxurious hotels in Beijing, the new agreement, with which Wanda will become one of the six main sponsors of the governing body of the world football.
The impact of the Covid-19 pandemic on the company’s real estate business, associated with political changes in the Chinese government, has caused the group to experience financial problems.
The presiding body Gianni Infantino plans to bill, only for sponsorships, US$2,693 million between 2023 and 2026 (52% more than the previous cycle)with the epilogue of the World Cup in the United States.
Source: Ambito
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