The South African Springboks have been stung by the loss of 2 key Sponsors, namely ABSA Bank and BMW!
ABSA Bank:
The Springboks are set to lose their jersey sponsor after ABSA Bank decided not to renew its contract with the South African Rugby Union (SARU).
According to the Sunday Times, the slow pace of transformation is one of the reasons for the decision.
It is believed that the deal was worth R 100 Million a year for just the Springboks and R 600 Million in total for the 4-year period.
This follow after a report earlier in the year which indicated that ABSA Bank would also not renew its sponsorship for the 2016 Currie Cup.
ABSA Bank, previously under the guise of Santam Bank and Bankfin, has backed the Currie Cup, one of the oldest competitions in world sport, since 1985.
SARU is reportedly in discussions with another bank, FNB, about sponsoring the Currie Cup as well as the Springbok Sevens team, who have also been sponsored by ABSA Bank.
BMW:
The Springboks have lost a 2nd sponsor in a matter of days with German car company BMW joining ABSA Bank in not renewing their contract.
Diederik Reitsma, spokesperson for BMW, said on Monday that they will not be renewing their sponsorship with the Springboks when it expires in December this year.
BMW’s 5-year sponsorship included the addition of the BMW brand mark to the left leg of the players’ shorts in official matches as well as the provision of BMW vehicles to the Springboks while on Test match duty in South Africa.
Earlier this month BMW were confirmed as the new title sponsors for next January’s SA Open at Glendower Golf Club.
Sport24