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Banking group Investec has been confirmed as the New Zealand sponsor for the upcoming Tri Nations.

The New Zealand Rugby Union has announced the two-year deal, with the tournament being rebranded as the Investec Tri Nations.

The company replaces Philips as naming-rights sponsor in New Zealand, with the deal being brokered by sports marketing specialists, the Essentially Group.

Philips announced last year that it was ending its 15-year association with New Zealand rugby after closing its Australasian consumer TV operation.

The new deal with Investec represents a further expansion of its considerable commitment to the world of rugby.

Investec is involved in a number of rugby sponsorships around the world including the Super 14 competition in Australia and the Investec Challenge Series, England's series of tests in November.

In February this year, Investec announced that it had become the naming rights sponsor for the Investec International Rugby Academy in South Africa, an academy designed to promote excellence in the playing and coaching of rugby for players of all nationalities.

Commenting on the deal, Andy Leith, managing director Investec South Africa said: "Rugby is common to all three of Investec's principal territories and our association with the Tri Nations reflects the top performance, passion and energy which we as a company share."

Leith confirmed that it was aligned to the Investec specialist banking focus and was a fantastic platform for Investec to strengthen brand awareness in its three main geographies, the United Kingdom, South Africa and Australia.

NZRU CEO Steve Tew said: "The annual rugby competition between New Zealand, Australia and South Africa is rightly regarded as one of the most intense in world rugby and we are thrilled that Investec has joined us as a key partner in the competition."

Tew said the sponsorship deal was especially welcome given the challenging economic conditions being experienced around the world and reflected well on the strength and appeal of the Tri Nations.

"We know that everyone, including the rugby community, is experiencing financially challenging times so we are thrilled that Investec has made a substantial investment in New Zealand rugby," he said.

"Not only does this support elevate and promote the Investec Tri Nations and the All Blacks, it also contributes funding which helps sustain community rugby and other development initiatives."

(Source: nz.sports.yahoo.com)