The deal effectively ends a long-running commercial and legal battle involving the other US credit giant MasterCard, which will cost FIFA up to 90 million dollars.

Visa becomes FIFA's sixth major commercial sponsor to sign a long-term deal, replacing its arch-rival MasterCard with worldwide rights to all FIFA competitions from 2007 to 2014.

"I am pleased to have all six FIFA Partners on board so that we can now focus our attention and energy towards ensuring the staging of world-class football competitions as well as using the power of the sport to tackle some major social issues," FIFA President Sepp Blatter said in a statement.

The companies are guaranteed exposure to a mass worldwide audience over the next seven years.

FIFA estimated that the 2006 World Cup in Germany alone generated 73,000 hours of television coverage in 214 countries, a 76 percent increase over 2002.

The credit card firm's executive vice president, John Elkins, said he was looking forward to the 2010 World Cup in South Africa.

"South Africa is a key location for Visa and there is great potential for us to work together with FIFA to leave behind a positive legacy following the 2010 event," he said.

Blatter said Wednesday that the Visa sponsorship was worth 170 million dollars, ten million dollars less than envisaged for the original deal that was meant to run from last year.

MasterCard had locked world football's governing body in a legal battle after it emerged that Visa and FIFA were negotiating a new deal.

MasterCard sponsored the 2006 World Cup in Germany and the credit card giant argued in US courts that it had a contractual right of first refusal to continue the sponsorship in 2010 in South Africa and in South America in 2014.

The US giant had been seeking 275 million dollars compensation in Zurich's arbitration court for breach of contract, according to Blatter.

The two sides finally reached a 90 million dollar out-of court settlement earlier this month.

FIFA fired four people in connection with the contract mess after a US court ruling said governing body negotiators had lied repeatedly to MasterCard officials and gave Visa updates on the talks with its rival.