British Petroleum (BP) and Castrol Oil have signed deals to sponsor the FIFA World Cup 2010 in South Africa.
The companies announced their decision jointly, both saying they were proud to sponsor the tournament being played on African soil, but neither would disclose the exact figures of the deals. The best estimates put the spend at around US$6 million.
BP Africa’s finance manager, Joe Mahlo, said his firm had been involved in sponsoring domestic football for the past five years, and the company wanted to keep hold of tradition in Africa.
“We have done a lot in sports development and this is the right time we have to venture into global soccer sponsorship for the benefit of African communities,” he said. “We know for sure that the World Cup would bring together many soccer enthusiasts from all over the world, therefore we have all the reasons to be associated with the first ever championship in Africa.”
Length of contract: 2 years
Annualised value: US$12 million
Overall value: US$24 million