FILE PHOTO: The New York/New Jersey's FIFA World Cup 2026 logo is revealed during the kickoff event in Times Square in New York City, U.S., May 18, 2023. REUTERS/Brendan McDermid/File Photo
(Reuters) - Bank of America is partnering with FIFA to become a sponsor for the 2026 World Cup, soccer's global governing body said on Thursday, in a move that will link the financial giant with one of the world's most-watched sporting events.
Sponsoring sport can be a fruitful marketing tactic for companies as it allows them to reach a wider audience and boost recognition of their brands.
The second-biggest U.S. lender will be FIFA's first-ever global sponsor in the banking category, the association said.
FIFA has a similar partnership with payments processing giant Visa since 2007, after it broke ties with Mastercard following a dispute.
BofA said the partnership would "complement its global and local market strategies" and allow it to engage with "a worldwide audience".
"Football connects the world like no other sport," BofA CEO Brian Moynihan said in a statement.
The 2026 World Cup will feature 104 matches and 48 participating teams, significantly higher than the last summit clash in Qatar in 2022, when 32 teams played 64 matches.
It will be co-hosted by the United States, Canada and Mexico. Of the 16 host cities, 11 are in the U.S.
(Reporting by Niket Nishant in Bengaluru and Saeed Azhar in New York; Editing by Pooja Desai)
