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England's Costly World Cup Gamble Backfires as Nationwide Drops Sponsorship

Nationwide, the UK's largest building society, has been the sponsor of the English national soccer team for the last eleven years.  Prior to the World Cup, Nationwide was reportedly ready to sign a new four year 20 million pound sponsorship agreement. Inexplicably, given this era of tight sponsorship budgets and the general demoralized state of the British economy, not to mention the rest of Europe or most everywhere else for that matter, the FA rejected the deal gambling that a good showing by the Three Lions would result in a deal worth double that amount.  Sadly for the officials of the FA, the disastrous showing by England has caused Nationwide to change its mind altogether and decide not to renew its contract at all, leaving the FA scrambling to find a new sponsor.  Good luck in landing one willing to pay more than about half the original Nationwide offer.

Full post as published by Sports Biz on July 05, 2010 (boomark / email).