After playing an instrumental role in João Havelange's successful 1974 bid for the Presidency of FIFA, Nally set out to fulfil the campaign's election promise to expand the federation's global development programme. Having restructured FIFA's rules and regulations and modernised its commercial structure, Nally conceived and designed the FIFA World Youth Championship, first held in Tunisia in 1977, for which he secured sponsorship from the Coca-Cola Company. The landmark agreement that followed, with which Coca-Cola became the primary sponsor of the 1978 World Cup in Argentina, would help set the cast for the future development of soccer globally, as the relationship between the FIFA World Cup and Coca-Cola matured to produce what has been described as "the biggest, most sustained corporate sponsorship programme in the world". Signed by West Nally in 1976, the original agreement is today considered a watershed moment within the evolution of the sports business industry. Nally himself has described it as "the best deal" he ever made.