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#Post#: 38385--------------------------------------------------
Allianz sponsorship
DIR By: Nunquam Dormio
Date: February 11, 2020, 4:36 pm
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HTML https://www.ft.com/content/18700f44-4cf0-11ea-95a0-43d18ec715f5
Not surprised TBH
#Post#: 38386--------------------------------------------------
Re: Allianz sponsorship
DIR By: Bolly-Quin
Date: February 11, 2020, 5:40 pm
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--- Quote from: Nunquam Dormio link ---
>
>
HTML https://www.ft.com/content/18700f44-4cf0-11ea-95a0-43d18ec715f5
> Not surprised TBH
>
--- End Quote ---
Paywall - what does it say - in brief, if you don't wish to cut
and paste...
#Post#: 38387--------------------------------------------------
Re: Allianz sponsorship
DIR By: Quin Kong
Date: February 11, 2020, 8:14 pm
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They’ve pulled out of sponsoring Saracens a year early.
#Post#: 38388--------------------------------------------------
Re: Allianz sponsorship
DIR By: Nico Wilson
Date: February 11, 2020, 9:46 pm
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Allianz scraps Saracens sponsorship
New blow to English and European rugby champions as fallout from
financial scandal spreads
Allianz is scrapping its sponsorship deal with Saracens after
the rugby team was relegated for persistent breaches of the
sport’s salary cap rules in the latest blow to the English and
European club champions.
The German insurance group has been Saracens’ principal sponsor
since 2012, with its contract due to end in 2021. But Allianz
executives have decided to end the deal a year early, following
a cheating scandal that has rocked the game, according to
several people familiar with the decision. One of the people
said the deal was worth £2m a year to Saracens.
The sponsorship had been a boon for Allianz’s goal of building
its brand by being associated with leading sports groups, with
Saracens winning the Premiership four times and the European
Champions Cup three times during the course of their deal.
In November, the club was fined £5.4m and docked 35 points after
a series of co-investments that its owner and former chairman
Nigel Wray, the property magnate, made with high-profile players
were found to have breached regulations that limit payments to
players. In January, Saracens apologised “unreservedly” for
continued salary cap breaches and agreed to the unprecedented
punishment of relegation from Premiership Rugby, the top tier of
English club rugby union.
Those revelations over recent weeks led to tension between the
two parties. Allianz responded by saying it is a company that
acts “with transparency and integrity” and that it would hold
talks with Saracens “to confirm this shared understanding and
commitment going forward”.
Last week, Allianz informed Saracens it would abandon the
sponsorship, according to people with knowledge of the talks who
requested anonymity because the decision has yet to be
announced. The club is trying to keep Allianz on board but has
already started the search for a new sponsor, according to
others informed of the discussions.
Allianz and Saracens declined to comment.
Allianz has poured money into sports sponsorship around the
world in recent years. Stadiums have been the biggest target of
its multimillion euro marketing budget, viewing naming rights as
a good way to keep the brand in the news regularly. There are
Allianz-branded venues in Munich, Turin, Nice, Vienna, Minnesota
and São Paulo.
The insurer also has naming rights to Allianz Park in North
London, where Saracens play their home matches. It is not clear
whether the insurer will retain that stadium naming deal even
after it pulls its sponsorship contract with the rugby club.
The move will be a further financial blow for Saracens, with
uncertainty over which star players will stay at the club next
season and income already set to be hit due to relegation.
According to Companies House records, Saracens had pre-tax
losses of £3.9m in the year ended June 30 2018, widening from a
£2.8m loss a year earlier. Revenues remained largely flat at
£17.9m.
#Post#: 38391--------------------------------------------------
Re: Allianz sponsorship
DIR By: Rocker
Date: February 12, 2020, 2:19 am
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Hardly surprising if it proves to be true. Not a good look for
them to be associated with financial cheating.
#Post#: 38434--------------------------------------------------
Re: Allianz sponsorship
DIR By: Quinky
Date: February 12, 2020, 7:29 am
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ALLIANZ DESPOND = LAND PONZI DEALS
#Post#: 38436--------------------------------------------------
Re: Allianz sponsorship
DIR By: MadMax
Date: February 12, 2020, 8:07 am
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Excellent news.
#Post#: 38439--------------------------------------------------
Re: Allianz sponsorship
DIR By: RocQuin
Date: February 12, 2020, 8:43 am
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The article states that the guilty ones have started looking for
a new sponsor.
Who the heck do they think would want anything at all to do with
them?
I can’t see any organisation with the means to provide
sponsorship at the appropriate level wanting their image
associated with such a bunch of cheats and crooks.
#Post#: 38440--------------------------------------------------
Re: Allianz sponsorship
DIR By: harlequins
Date: February 12, 2020, 8:45 am
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Bernie Madoff has asked for release from prison...not that I am
saying anything....
#Post#: 38457--------------------------------------------------
Re: Allianz sponsorship
DIR By: Boonie
Date: February 12, 2020, 10:58 am
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Maybe a casino group could take them on? ;)
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