Sports Sponsorships
Mastercard engages in the sponsorship of major sporting events throughout the world. These include the New Zealand All Blacks the country's rugby team, the UEFA Champions League, the PGA Tour's Arnold Palmer Invitational Presented by Mastercard, the Canadian Hockey League's Memorial Cup and recently announced a new sponsorship deal with Australian Cricket team and is also the founding sponsor of IPL cricket team Mumbai Indians.
Previously it also sponsored FIFA World Cup but withdrew its contract after a court settlement and its rival Visa took up the contract in 2007. In 1997, MasterCard was the main sponsor of the MasterCard Lola Formula One team, which withdrew from the 1997 Formula One season after its first race due to financial problems.
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