FIFA President Sepp Blatter, who has been branded by critics as ‘corrupt’ and ‘incompetent’, has finally resigned from his post, to the delight of sponsors and critics who have been lambasting him for his inability to rein in massive corruption that has been rocking world governing body and world football for the past decade or so.
FIFA die-hard sponsors Coca-Cola, Visa, Adidas, Hyundai and Anheuser-Busch InBev said the resignation was a positive step, Reuters reported today.
“This is a significant first step towards rebuilding public trust, but more work lies ahead,” Visa said.
The resignation also eases concerns of sponsors, who have been on one hand signed long-term agreements with FIFA, and the World Cup which presents a lucrative opportunity, Reuters quoted branding experts as saying.
But the recent corruption investigation could taint the sponsors’ brands and reputation with consumers, branding experts added.
The resignation comes only four days after the 79-year-old Swiss was elected for a controversial fifth term at the helm of the Zurich-based organisation.
It also comes six days after Swiss Police raided a Zurich hotel and arrested FIFA officials.
FIFA and Blatter’s reputation is believed to have been tainted by the upcoming two World Cups, Russia 2018 and Qatar 2022, which many critics strongly believe to have been controversially awarded to these countries.
It remains unclear however whether the two editions will be moved to other countries.
Watch this space!