Electronic Arts (NASDAQ:EA) stock is seeing red on Wednesday following rumors that the video game company may not renew a deal for the FIFA name.
According to these rumors, EA and FIFA aren’t seeing eye-to-eye in negotiations over using the latter’s name. As a result, EA may be preparing to move ahead with its soccer game series without the FIFA title.
Two trademarks from Electric Arts popped up recently that point to this. They include the name “EA Sports F.C.” and we’re trademarked in the EU and Britain. This could be the new name for the FIFA soccer games moving forward.
Even with a name change, this doesn’t mean EA plans to stop representing real players in its games. A press release from the company yesterday noted the extension of a deal with FIFPRO, which is the global representative of soccer players.
Adding to all of this speculation is a letter last week from the executive president and general manager of EA Sports, Cam Weber. He says the following in it.
“As we look ahead, we’re also exploring the idea of renaming our global EA SPORTS football games. This means we’re reviewing our naming rights agreement with FIFA, which is separate from all our other official partnerships and licenses across the football world.”
Talk of EA no longer using the FIFA name for its soccer games saw shares fall lower today. That includes one sharp dip just before noon that it quickly recovered from. As of Wednesday afternoon, EA stock is still down slightly.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.