China's e-commerce titan Alibaba is in talks with FIFA to become a major sponsor of the World Cup, Bloomberg reported, citing undisclosed sources.
While exact details still unknown, Bloomberg postulated that the deal between FIFA and Alibaba could involve any of the latter's subsidiaries or affiliates. Currently, Alibaba's E-Auto is a presenting partner of the FIFA Club World Cup. The eight-year partnership was announced in Dec. 2015.
Once sealed, the deal would make Alibaba the second Chinese company to secure a major FIFA sponsorship, coming behind Dalian Wanda Group Co., which signed up in March.
The World Cup governing body has been struggling to secure major sponsors after the corruption scandal thrown at the organization that resulted in charges filed against top executives.
Before Wanda Group, FIFA had not added a top-tier sponsor since 2012, said Bloomberg.
According to the business news site, the global football governing body has three tiers of sponsorship.
"Six to eight slots are designated for 'FIFA partners,' a commitment that costs about $40 million per year and lasts for a four-year World Cup cycle," Bloomberg reported.
The current sponsors are Coca-Cola Co., Hyundai Motor Co., Adidas AG, Visa Inc., and most recently, Wanda Group.
Citing sources familiar with the matter, Bloomberg said that there are still two available slots "expected to be filled by the end of the summer."
Wanda Group may have also hinted at the possibility of another Chinese group signing up for a major sponsorship title.
At an earlier press conference, Wanda Group CEO Wang Jianlin said that another company from China would ink a deal "within a very short time," reported Bloomberg.
FIFA, however, remains tight-lipped amid sponsorship rumors.
"We never comment on speculation concerning current or reported contractual negotiations as matter of principle," said FIFA spokeswoman Delia Fischer in a Reuters report.
Alibaba also declined to comment on the matter, said Reuters.