FIFA turn down commercial bid

FIFA have rejected a £1.6bn (€2.4bn) bid for the commercial rights to the 2010 and 2014 World Cup tournaments.

The offer, from Zurich-based group International Sports and Entertainment, was believed to be for all broadcast and commercial rights but football’s world governing body claims they can earn much more by waiting until nearer the time.

Jerome Valcke, FIFA’s head of marketing and television, told the Financial Times: “This covered a range of commercial rights, which explains why we were not able to say yes or even discuss it.

“If you take this number without [considering] what it was about, it seems that it is a big figure; if you put it in front of what it was about, it is a very low one.

“It’s too early. There are other alternatives to work on and we have not done all our homework.”

Worldwide television rights for the 2002 and 2006 World Cups were sold for £1.3bn (€1.9bn) but the offer for 2010 and 2014 was thought to include new media and hospitality rights.

The 2010 World Cup hosts will be chosen by FIFA’s executive committee next week. Five African nations are competing with South Africa and Morocco the favourites ahead of Egypt with Tunisia and Libya virtual no-hopers.