Not just since the beginning of the current corruption scandal has Fifa been considered by many as the evil empire. That for a long time something at the International Football Federation has been, let’s just say, not quite right, has manifested itself in our minds. But now there will be consequences. The end of the Joseph Blatter era is inevitable.
Sponsors contributed around EUR 1.4 billion to the last Fifa World Cup in Brazil. As it stands, they will no longer do that, at least not in this environment. Visa has openly threatened with withdrawal, should the Association not “turn the tide immediately”. Coca-Cola and McDonald’s announced they will reconsider their commitment. Hyundai-Kia has become “extremely worried”. Sony and Emirates turned their backs some time ago on Fifa because they were afraid that the poor image of the association rub off on them.
This is true now more than ever. Corporate governance has gained significantly in importance in recent years for companies. And the fact is that in this case more than just paying lip service is necessary. Fifa in its current form and constitution contradicts any corporate governance – and it is no longer supportable for any company, let alone a desireable partner. This is indicated not least by the large number of abusive posts in social media that have befallen the sponsors.
However, once the cash flows dry up, Joseph Blatter and his system can no longer prevent their own demise.