As brands and FIFA corporate sponsors like Coca-Cola, McDonald’s, and Visa are making a push for the global governing body of soccer’s president Sepp Blatter to call it quits in the wake of recent scandal, investors in adidas are hoping it will do the same.
Blatter, who has been at the head of FIFA for 17 years now, says that he isn’t considering resignation despite the current criminal investigation he’s facing.
A fund manager at Union Investment, which owns .75 percent of adidas, told Reuters that adidas could be facing boycotts from consumers or fines from regulators if it’s perceived that the brand is “financing a corrupt system.”
Reuters reports that a July survey showed that roughly 38 percent of Germans would consider switching from FIFA sponsors like adidas to competing brands due to the soccer scandal. The same survey found that 78 percent of Germans believe companies should end their sponsorships with FIFA.
Adidas says it has no intentions to cut short its FIFA contract.