The international governing body of football – soccer for us Americans – lost its first big sponsor since the FIFA report on the 2018 and 2022 World Cup bids was “misrepresented.” The author of the independent report on the legality of the bids, Michael Garcia, criticized FIFA for not releasing his report in full and “misrepresenting” his conclusion.

Sony, a ten-year partner with FIFA, said that the corruption allegations had nothing to do with the recent reports. In a statement acquired by The Nikkei Asian Review, Sony declared that “the expense of the sponsorship may become a burden in the future for the technology company.” FIFA is set to loose 300 million in the current deal. Adidas and Coca-Cola voiced concerns over the bid allegations over the summer, but have yet to abandoned the governing body.

However, according to the Daily Mail, Sony is “unhappy” with the allegations of fraudulent World Cup host bidding and FIFA leadership elections. In a memo to FIFA in June, Sony reportedly asked that “the claims be investigated appropriately” and reinforce FIFA values of “integrity, ethics and fair play.”

Sony follows the example of Emirates Airlines who dropped their sponsorship with FIFA “following an evaluation of FIFA’s contract proposal which did not meet Emirates’ expectations.”

This may bode ill for FIFA President Sepp Blatter. Blatter is coming to the end of his fourth term at the top post, and this scandal may be enough to lodge him fro the position he has held since 1998. Blatter, who is no stranger to scandals, got himself in hot water in 2004 after calling for women playing in the Women’s World Cup to wear “tighter shorts” to make the event more popular.

Blatter has also been slow to combat racism. Blatter claimed to CNN that he denied the existence of racism in football, while evidence points to the opposite conclusion. High profile cases of racism range from players against players and fans against players on the pitch.

Twenty-seven countries, including some countries hosting Europe’s elite club leagues, have fallen victim to the plague of racism. In 2013, Kevin Prince Boateng of the football team A.C. Milan walked off the pitch with his team after fans of Serie B Pro Patra chanted racist refrains from the stands. John Terry of England’s national team and Luis Suarez of Uruguay’s team were given hefty fines and match bans for making racist remarks to Anton Ferdinand of England and Patrice Evra of the French national team respectively. Both Terry and Suarez were given “slaps on the wrists compared to what should have happened,” said one insider at FIFA.

Blatter has tried to combat racism with FIFA’s “Say No To Racism” campaign, but it may be too little, too late. Blatter has shown little interest in the campaign when it does not affect FIFA’s revenue. The Swiss born FIFA executive has dedicated no serious funds to the anti-racism campaign, even on the heels of record-breaking profits this year.

FIFA’s Secretary General’s office announced that FIFA made close to 4 billion dollars at the 2014 World Cup. Flaking sponsors like Emirates and Sony may mean Blatter may be forced to act to ensure his fifth term. Sony and Emirates contributed about 1.3 billion dollars to FIFA’s bottom line. Blatter confirmed he will be standing for another term next year, but with large sponsors leaving, voters may drop the longtime president in favor of someone new.