U.S. Companies Linked To FIFA Face Investigation

Publicly traded U.S. companies with business links to FIFA may soon be under investigation by the Securities and Exchange Commission. According to a Reuters report, securities regulators are looking into possible violations of U.S. bribery laws that could have resulted in marketing, sponsorship or broadcast contracts. Though no charges have so far been made or names released, sportswear giant Nike (NKE) may be among the companies vulnerable to allegations. Back in May, five executives and nine soccer officials, mostly FIFA representatives, were indicted on bribery and kickback allegations amounting to over $150 million. During the indictment case prosecutors referenced a landmark deal in Brazil back in 1996 matching Nike's agreement to become the sponsor of the Brazilian National soccer team. The $160 million dollar deal was referenced as a ten year contract involving 'Sportswear Company A.' The civil probe still remains in early stages and Nike has not been officially named in the case. Nike shares are up around 46 percent in the last twelve months.