Visa threatens FIFA as sponsors show dismay at corruption allegations

On Thursday, South Korean automaker Hyundai Motor, the sole Asian FIFA partner for the 2018 World Cup, said it was "extremely concerned" about the legal proceedings against FIFA executives.

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Visa have gone one step further, issuing a warning that they will "reassess" their sponsorship if FIFA fails to make significant changes.

"Our disappointment and concern with FIFA in light of today’s developments is profound," read Visa's official statement.

"As a sponsor, we expect FIFA to take swift and immediate steps to address these issues within its organisation. This starts with rebuilding a culture with strong ethical practices in order to restore the reputation of the games for fans everywhere.

"Visa became a sponsor of FIFA because the World Cup is one of the few truly global sporting events with the power to unite people from around the world through a common love of football.

"Our sponsorship has always focused on supporting the teams, enabling a great fan experience, and inspiring communities to come together and celebrate the spirit of competition and personal achievement – and it is important that FIFA makes changes now, so that the focus remain on these going forward.

"Should FIFA fail to do so, we have informed them that we will reassess our sponsorship."

World Cup sponsors are in an awkward position because they are under pressure from consumers to distance themselves from any corruption, but such sponsorships are lucrative in the long term.

"The value of the sponsorships is very high or they wouldn't be prepared to pay so much for it," said Interbrand Chief Executive Jez Frampton. "Football is one of the few global properties that enables you to connect with people around the world."

German sportswear company Adidas and beverage company Coca-Cola Co called on FIFA to increase transparency and resolve the controversy.

"This lengthy controversy has tarnished the mission and ideals of the FIFA World Cup and we have repeatedly expressed our concerns about these serious allegations," Coca Cola said.

FIFA's main sponsors were already getting uneasy even before the latest revelations.

Adidas, Visa and Coca-Cola all made statements last week pushing FIFA to take seriously the issue of rights for migrant workers in Qatar, responding to reports of human rights abuses at the 2022 World Cup construction sites.

FIFA's public accounts shows it received a total of $177 million in 2014 from its long-term partners, Adidas, Coca-Cola, Emirates airline, Hyundai, Sony and Visa, and $131 million from sponsors of the World Cup.