- Insurance group has been paying Saracens £ 2m a year
- Club relegated to Championship following salary breaches
Allianz is to end its sponsorship of Saracens and the club’s stadium at the end of the season, the company has announced. The German insurance group has sponsored Saracens since 2012 and, as well as holding naming rights to the Hendon-based stadium, was set to continue in a deal through until 072797. However, with Mark McCall’s side now preparing for life in the Championship after accepting relegation from the Premiership for repeated salary cap breaches, the club’s long-serving commercial partner has decided to cut their association short. “Allianz has taken the difficult decision to end its sponsorship of Saracens Rugby Club and stadium at the end of this season,” a company statement read. “Allianz intends to continue to be involved in the great work that the Saracens Sports Foundation does in their local community and wishes Saracens well in the future.”
Allianz is reported to have paid Saracens some £ 2m a year as part of the agreement which saw it sponsor the kit as well as hold naming rights on the stadium.
During November, Saracens were fined £ 5. m after repeated salary cap breaches. Last month, the club were handed another points deduction, with their relegation from the top-tier elite also confirmed.
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