Saracens Release Statement Confirming Even More Bad News For The Club
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Saracens have released a statement to confirm that Allianz Insurance will cease their sponsorship with the club at the end of the season.
It’s the latest in a series of fallouts following an investigation in a number of salary cap breaches by the reigning Premiership and European champions.
Saracens were initially fined in excess of £5 million by Premiership Rugby and handed a 35-point deduction for breaching the salary cap in each of the last three seasons before further sanction was handed down for this season.
That sanction saw them handed an additional 35-point deduction, relegating them from the Premiership, with the three-time European champions set to ply their trade in the Championship next season.
Allianz has sponsored Saracens since 2012, including their stadium, Allianz Park, in a deal worth a reported £2 million-a-season.
“Saracens Rugby Club can confirm that it has agreed to end its lead partnership with Allianz at the end of the 2019/20 season,” a club statement read.
“The partnership was successful since its inception back in 2012, encompassing naming rights for Allianz Park stadium and the club’s playing shirts, as well as Principal Partner of the Saracens Sports Foundation.
“Saracens would like to thank Allianz for its support over the last eight years and the Club is pleased that it has re-affirmed its commitment to the Foundation until the end of the 2020/21 season. This ensures continuity in what is such a key aspect of the Club’s community programme in a partnership which uses the power of sports to inspire and improve lives throughout the north London community.
“Saracens look forward to the remainder of the 2019/20 season working with the Allianz team around the club’s existing games at Allianz Park as well as its showpiece fixture The Showdown at Tottenham Hotspur Stadium on Saturday 28th March, where Saracens will play in Allianz’s special edition blue shirt.
“Saracens look forward to working with our stable of committed Principal Partners including Nike, Hy-Pro and Simba and we would like to thank them for their ongoing support. We are also excited about developing new commercial partnerships in the coming months.”