Not good news with the Sky/ESPN deal expiring soon too, not really the best financial climate to be renegotiating or looking for new deals.
Clydesdale Bank's title sponsorship of the Scottish Premier League will come to a close at the end of the 2012/13 season, it has been announced.
The bank have sponsored the league since 2007, after the Bank of Scotland's deal expired. An option to extend the deal for an additional year has not been taken up.
Clydesdale Bank's original deal was worth £8 million per season to the SPL, with no figure given upon the contract's extension in 2010.
The SPL's current television deal with Sky Sports and ESPN, which is worth £13 million per season, is due to expire at the end of the current 2011/12 season. Sky and ESPN have the option to extend the deal for another two seasons at the same rate.
“The SPL and Clydesdale Bank have enjoyed an extremely successful partnership and the relationship has gone from strength to strength over the years," SPL chief executive Neil Doncaster said in a statement.
"I would like to thank the Clydesdale Bank for their support and commitment to Scottish football and look forward to working alongside the Clydesdale Bank to ensure the final 18 months of the partnership continue that great success.
“Work also now begins on seeking a new title sponsor for the foremost sporting competition in Scotland from season 2013/14.
"The Scottish Premier League has consistently demonstrated that it provides terrific value to its sponsors. I am sure that success will be important in the work we now undertake.”
Steve Reid, Retail Director of the Clydesdale Bank, added: “It has been a privilege to support Scottish football over what will be a six-year period.
"As well as supporting our national sport, we entered into the sponsorship to raise awareness of our brand and it is fair to say we will have achieved more than we could have hoped for.
“However, we believe that at the end of our current deal in 2013 the time will be right to hand the partnership over and, in making the announcement now, we are giving the SPL 18 months in which to find the league’s next sponsor.
“We remain firmly committed to the remaining period of the sponsorship and look forward to working with the SPL throughout this time.”
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http://sport.stv.tv/football/scottish-premier/aberdeen/279584-clydesdale-bank-to-end-scottish-premier-league-sponsorship/
Not good news with the Sky/ESPN deal expiring soon too, not really the best financial climate to be renegotiating or looking for new deals.