Question mark over whether RBS will review sponsorship of Six Nations rugby tournament
RBS could be considering ending its £5 million-a-year sponsorship of the Six Nations rugby tournament, according to media sources.
The Scottish Daily Mail reports: “The £20 million four-year deal is due for renewal next year but beleaguered RBS bosses are under severe pressure to save public money after being rescued by a £45 billion taxpayer-funded bailout.
“Business insiders suggested over the weekend that the bank is considering its options. RBS chiefs responded by claiming they remained committed to ‘grass-roots rugby’.”
The SDM says it had been suggested in business circles that the organisers of the tournament would seek £10 million a year from any renewed deal, while some have speculated that RBS may take up a 'cheaper option; of sponsoring the Glasgow 2014 Commonwealth Games instead.
“RBS has admitted it is ‘actively considering’ a partnership arrangement with Glasgow but, until now, it was thought that any deal with the city would be in addition to the Six Nations.”
The newspaper quotes a spokesman for RBS as saying: “We have radically altered our approach to sponsorship to reflect how the bank is changing.
“We are still a commercial business with customers to talk to and our partnership with the Six Nations reflects our core markets, the communities in which we do business, and also grassroots rugby.
“The partnership is in place and we will review it but, as things stand, we are committed to the Six Nations."