Soccer’s governing body is also at risk of losing millions in sponsorship deals
Corporate sponsors are scrambling to distance themselves from the sprawling corruption dragnet launched against soccer’s global governing body, the International Federation of Association Football (FIFA), by American and Swiss authorities this week.
On Wednesday, prosecutors in the U.S. unveiled a 47-count indictment against 14 defendants tied to the federation, including nine FIFA officials, who are accused of involvement in racketeering, wire fraud and money-laundering conspiracies.
Nike insists it is co-operating with the authorities after the arrests of football officials in Zurich on corruption charges on Wednesday.
US attorney general Loretta E Lynch has outlined allegations of bribery and corruption in the bidding process for the 2010 World Cup finals in South Africa, the 2011 Fifa presidential election and a sponsorship agreement between the Brazil national football team and a major US sportswear company.
Nike signed a £100million sponsorship deal with the Brazilian Football Confederation in 1996 and still has an agreement with the association – but Lynch would not comment on whether or not the company was involved in the investigation.
However, the sportswear giant issued a statement which read: “Like fans everywhere we care passionately about the game and are concerned by the very serious allegations.
“Nike believes in ethical and fair play in both business and sport and strongly opposes any form of manipulation or bribery. We have been co-operating, and will continue to co-operate, with the authorities.”
