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Nationwide ends England football sponsorship
Business Digest: The FA has hired IMG to find a new backer for the country's football team
After a dismal World Cup campaign the Football Association has another problem on its hands - the England team is about to lose its sponsor.
The Nationwide building society, which has backed the team for 11 years, says it is "unlikely" to renew its deal when it expires at the end of the month,
Natiowide had been willing to pay £20m before the World Cup to extend the deal for four more years, but the FA was holding out for more money, hoping that a successful tournament would help their cause.
Now the plan has backfired and the FA has hired sports agency IMG to sound out potential replacement sponsors including O2, Orange and Facebook.
Read a full report at the Telegraph. ·
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As a Nationwide member, I'm delighted. They offer a negative real rate to savers. Many members have no interest in football. Giving millions every year to a sport industry never had a clear benefit to members.
The senior management might have enjoyed benefits, tickets, boxes and so on resulting from this sponsorship, but what was in it for the rank and file?
I await patronising management speak and wibble about mind share, return on marketing spend, exposure . . . blah blah. Let's not even bother with reach and frequency.