Mastercard sponsors major sporting events and teams throughout the world. These include rugby's New Zealand, the MLB, the UEFA Champions League and the PGA Tour's Arnold Palmer Invitational. Previously, it also sponsored the FIFA World Cup but withdrew its contract after a court settlement and its rival, Visa, took up the contract in 2007. In 1997, Mastercard was the main sponsor of the Mastercard Lola Formula One team, which withdrew from the 1997 Formula One season after its first race due to financial problems. It also partners the Brazil national football team and the Copa Libertadores.