Visa drops Rugby World Cup sponsorship 17/04/2008 |
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The World Cup has lost Visa as one of its longest-standing main sponsors, a source close to the deal told Reuters on Wednesday.
"The International Rugby Board (IRB) were informed last night," the source said. "Visa has had a good relationship with the competition but now wants to concentrate on other big events."
The company has backed the last four World Cups dating back to the 1995 edition in South Africa.
It is also a major sponsor of the soccer World Cup and the winter and summer Olympics and those deals would continue, the source said.
No figure for the value of the rugby sponsorship was available but the source said it "ran into multi-millions of dollars".
An IRB spokesman said he had not been informed of the decision.
"The first meeting of the IRB discussing the next World Cup (in New Zealand in 2011) will be held on the 29th of this month," he said.
(Source: Reuters)
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