Nationwide set to walk away from England 05/07/2010 |
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Nationwide is expected to confirm this week that it will not be renewing its £20m contract with the England football team.
The building society, which has sponsored England for 11 years, had previously made a £20m offer to extend its deal – which expires at the end of July – for another four years.
However, the Football Association thought it could secure an agreement closer to £40m if England had a successful World Cup.
The team’s failure in South Africa now looks set to be compounded by Nationwide’s decision to walk away.
The Telegraph newspaper quotes a company spokesman as saying that the group was "pleased" with the relationship that had "helped raise its profile with customers" but that the contract was "unlikely to be renewed".
The FA has hired IMG to help with its sponsor search and talks are thought to have been held with companies including Blackberry, O2, Facebook and Orange.
But an unnamed branding expert told the Telegraph: "After the World Cup performance, the England brand is associated with embarrassment. The big global sponsors are already tightening their spending and England will be far down the list of desirable deals."
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