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FIFA PAY MASTERCARD $90m TO SETTLE DISPUTE

The financial services firm will receive the payment and scrap its sponsorship of the 2010 and 2014 FIFA World Cups.

The row exploded when FIFA offered MasterCard’s arch-rival Visa the sponsorship rights to the two tournaments. MasterCard insisted a first-right of refusal option had not been offered to them and took soccer’s world governing body to court.

At the end of last year a US judge ruled FIFA had not honoured its agreement with the firm which has been a major sponsor since 1994.

The $90m from FIFA – paid in instalments – is compensation for MasterCard for the discontinuation of their sponsorship agreement.

FIFA confirmed last night they are ‘set to implement a contract’ with Visa after the MasterCard deal was finalised.

FIFA president Sepp Blatter said: “FIFA has, first of all, resolved a problem and, secondly – much more importantly – has paved the way to a good, new partner that will support it and its manifold activities efficiently all around the world.”