Canada's Scotiabank reviews soccer sponsorship after FIFA arrests

Thu May 28, 2015 6:40pm EDT
 
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By Euan Rocha

TORONTO May 28 (Reuters) - Bank of Nova Scotia, an official partner of the governing body of soccer in North and Central America and the Caribbean, said on Thursday it would review sponsorship ties following the indictment of several soccer officials on corruption charges.

The Toronto-based bank stressed that it does not plan to sever sponsorships imminently with the Confederation of North, Central American and Caribbean Association Football (CONCACAF) but was closely monitoring developments after charges were brought by prosecutors in the United States on Wednesday.

"We are deeply disturbed by these allegations involving CONCACAF officials and take them very seriously," the bank, which operates under the Scotiabank banner, said in a statement. "We have zero tolerance for these types of actions from any of our partners."

On Thursday, CONCACAF President Jeffrey Webb, one of seven officials of the sport's world governing body FIFA arrested in Zurich on Wednesday, was provisionally dismissed from his role.

Webb also served as vice-president of FIFA, or the Fédération Internationale de Football Association.

In December, Scotiabank become the official bank and first official partner of CONCACAF. As part of that deal it became the title sponsor of the Gold Cup, and the championship for national teams from the United States, Canada, Mexico, the Caribbean and Central America.

It is also the title sponsor for the CONCACAF Champions League and the Caribbean Nations Cup.

Scotiabank's move to review its ties mirrors reactions from other major soccer sponsors across the globe.

Visa Inc said on Thursday it told FIFA it could end its sponsorship if the organization does not act fast to restore the reputation of the game. (Reporting by Euan Rocha; Editing by Grant McCool)