Standard Bank to cut sport sponsorships
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Cricket South Africa (CSA), Kaizer Chiefs and Orlando Pirates will all be looking for new sponsors next year.
Standard Bank said on Friday it would not renew their contracts when they expire in May 2011.
The contract with the national cricket federation includes funding of South African limited overs teams and the hugely popular Pro20 Series.
“Changing business priorities at Standard Bank led to the decision to end its sports sponsorship contracts as part of the effort to improve business efficiencies across the group,” the bank said in a statement.
Chiefs accept end of sponsorship deal
Kaizer Chiefs have accepted the decision by Standard Bank to terminate its decade long partnership with the club.
“It is not a blow, as we will go out and find a new partner to replace the bank,” said Amakhosi manager Bobby Motaung.
“However, we enjoyed a tremendous relationship with the bank and accept and respect their decision to end this partnership. We will move on. We have plenty of companies interested in backing Chiefs but we are in no rush,”
Motaung was not surprised by the bank’s move and said it did not usually have sponsorship partnerships which lasted as long as this one had. It had benefited both the bank and Chiefs.
The bank was not the main sponsor of the two Soweto giants.
Cellphone company Vodacom pumps in around R200-million to each club over three years.
Vodacom has its logo on the front of both Chiefs and Pirates jerseys, while the Standard Bank logo appears only on the sleeves of both clubs’ jerseys.
Motaung declined to discuss how much the Standard Bank sponsorship was worth, but it is understood that the deal could be worth about R65million to each club over three years.
Pirates officials, who appeared taken by surprise by the bank’s announcement, referred all queries to their chairman Irvin Khoza, who was unavailable for comment on Friday
However, in a statement released by the bank, Khoza said he was pleased the club had been able to provide a solution to the marketing challenges of Standard Bank over the many years of their partnership.
“The Orlando Pirates jersey is an invaluable television billboard to the millions of television viewers and those that interact with our loyal supporters who wear our jersey as part of their statement of belonging,” he said.
“We wish Standard Bank success as it focuses its marketing to the new priority areas of their business.”
Cricket SA expresses gratitude
In the same statement, CSA CEO Gerald Majola said it was grateful to Standard Bank for its loyal support of cricket over the past 13 years.
“The bank’s significant investment in the game leaves cricket in a very healthy state,” he said.
Standard Bank said it had been a sponsor of limited overs cricket since 1997.
It was sole sponsor of the national South African One Day International and Pro20 teams; International Pro20s matches played in South Africa; The Standard Bank Pro20 domestic series; and The Standard Bank Schools Pro20 Challenge.
It also sponsored Standard Bank High Performance Cricket, including the Standard Bank National Cricket Academy and high performance programme; the Standard Bank Schools Development Programme; and the Standard Bank Under 13 National Cricket Week.
It had partnered with the International Cricket Council (ICC) on the world cups in 2003 and 2007, the World Twenty20s in 2007 and 2009, and the Champions Trophy in 2009.