China’s Wanda group on Friday became the first top level sponsor for Fifa as world football seeks to renew its scandal-tainted image after the departure of Sepp Blatter.
A Fifa statement said Wanda, owned by China’s richest man Wang Jianlin, would have “the highest level of sponsorship rights” for the next four World Cups. It did not give a figure for the sponsorship.
Wang, 61, whose personal fortune is estimated at about $29 billion, already has a stake in Atletico Madrid and owns the Infront, one of the biggest sports marketing and media companies, which has Fifa as a client.
We are highly motivated to promote football across the country and to inspire a new generation of youngsters.
The world football body has been struggling to find new top level sponsors since corruption scandals erupted last year.
Thirty-nine football officials and business executives face charges in the United States over more than $200 million in bribes paid for football deals.
Longtime football leader Blatter is now fighting a six-year-ban for ethical abuses.
Sony and Emirates Airlines quit as top level sponsors in 2014 and never immediately replaced.
Fifa on Thursday announced a $122 million loss for 2015 because of the cost of the scandals.