05-28-2015, 01:43 PM
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#157
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Franchise Player
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Quote:
Originally Posted by Locke
Isnt that just being a sponsor? Why would they have to pay for the privilege to pay?
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http://money.cnn.com/2015/05/28/news...fa-corruption/
The indictments unsealed Wednesday don't name Nike by name. Instead they refer to "sportswear company E" in one indictment and "sportswear company A" in another indictment as having gotten the Brazilian team sponsorship deal in 1996. And Nike is the company that got the deal in 1996 to sponsor the team and supply it with soccer shoes and uniforms.
To get the deal with the Brazilian national team, the unnamed sportswear company had to deal with the Traffic Group, a sports marketing firm whose founder Jose Hawilla has plead guilty to bribing FIFA officials in order to become the middleman between the organization and various broadcasters and sponsors who wanted to strike deals with the soccer organizations. And the sportswear company agreed to pay the Traffic Group extra to get the Brazilian sponsorship deal done, according one of the indictments unsealed yesterday.
The indictment said that contract called for the company to pay $160 million to the Brazilian team over 10 years.
"Sportswear Company A agreed to pay a Traffic affiliate with a Swiss bank account an additional $40 million in base compensation on top of the $160 million it was obligated to pay," according to the indictment. " It said Traffic also billed the company for an additional $30 million in fees between 1996 and 1999.
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