- Title
- Hyundai extends World Cup deal
- Date
- 2011-01-24
Hyundai Motor Group, Korea’s biggest automaker, extended its sponsorship of soccer’s World Cup four years early as the sport’s governing body considers allowing the Asia nation to host the 2022 tournament.
Hyundai-Kia will be the official automotive sponsor of FIFA events, including the World Cup, for the next 12 years. The company became a sponsor in 2002, when Korea and Japan co-hosted the tournament.
FIFA will vote Dec. 2 on the hosts for the two World Cup following Brazil in 2014. Korea is vying with Qatar, the U.S., Australia and Japan for the 2022 games. Chung Mong-Joon, who held the chairman’s post at Hyundai Heavy Industries, is a FIFA vice president and sits on the executive committee that will decide the host.
Earlier this month, FIFA suspended executive committee members Amos Adamu from Nigeria and Tahiti’s Reynald Temarii, which reduced the decision-making body to 22 members. London’s Sunday Times said Oct. 17 that the pair indicated they would trade cash for their support. They won’t be replaced before the vote on who hosts the two World Cups after Brazil.
The U.S. has estimated that the competition is worth as much as $5 billion to the hosts. Russia, England and a joint Netherlands/Belgium bid are contending for 2018, along with Spain/Portugal.
Hyundai will give significant logistical support for the competitions by providing fleets of official vehicles, according to FIFA’s statement.
“This renewal will further enhance our business values and the vision that football can act as the driving force to make a better world,” Chung Mong-koo, chairman and chief executive officer of Hyundai Motor Group, said in the statement.
(Bloomberg)
