The 16-year extension, subject to an eight-year renewal, will give Coca-Cola sponsorship rights to all Fifa competitions, exclusive marketing opportunities, increased media exposure and affiliation with Fifa's special events and development initiatives.
At the same time, Coca-Cola becomes the fourth blue-chip gaint after Adidas, Hyundai and Sony to join Fifa's new top tier of sponsors for the 2007 to 2014 rights period, which have utmost affiliation to Fifa and its activities on and off the pitch.
The remaining two Fifa partners are due to be announced soon.
Coca-Cola also used the opportunity to unveil its new global marketing slogan for the sponsorship, "We all speak football", which will be launched next year at the 2006 World Cup in Germany.
In addition, Coca-Cola and Fifa revealed details of the first global Fifa World Cup Trophy Tour with Coca-Cola, which will visit 31 cities in 28 nations, beginning in January 2006 for three months and every four years in the run-up to the World Cup, and will see the World Cup trophy put on display to the public.
Joseph Blatter, Fifa president, said: "This agreement teams us up with one of world football's leading advocates in a long-lasting relationship that bears witness to the enduring appeal of football."
E Neville Isdell, chairman and chief executive of Coca-Cola, said: "This recommitment by Coca-Cola to the world's most popular sport and its fans affords us new opportunities to bring people closer together through football."
Coca-Cola has been an official sponsor of Fifa since 1978 with stadium advertising at every World Cup match since 1950.
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