UEFA Drops $45 Million Gazprom Sponsorship as Russia Sanctions Grow
UEFA announced the cancellation of its $45 million a year sponsorship with Russian energy company Gazprom in response to Russia’s invasion of Ukraine last week.
“UEFA has today decided to end its partnership with Gazprom across all competitions,” said the organization in a statement. “The decision is effective immediately and covers all existing agreements including the UEFA Champions League, UEFA national team competitions and UEFA EURO 2024.”
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Gazprom has been one of the main sponsors of European soccer’s governing body. The natural gas giant signed a 12-year deal with the organization in 2012 for approximately €40 million ($45 million) a season. Other sponsors include Heineken, FedEx, Mastercard, Expedia Group, Pepsi and Sony PlayStation 5.
While UEFA’s decision signals immediate cancellation of the deal, the consequences are unclear. Some broadcasters, such as DAZN, the official host of Champions League in Germany, Austria and Canada, said that the company has no control over commercials from UEFA sponsors. “If the broadcasters don’t have an out yet, they’ll have it by the next round of games in a few weeks,” said Dave Wakeman, the president of Wakeman Consulting Group.
The association decided Friday to move the May 28 Champions League final from Saint Petersburg, Russia, to Paris.
UEFA works under FIFA and oversees 55 national soccer associations, and its core mission is to promote European football.
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