Shareholders in Celtic Football Club have called for an end to its joint sponsorship deal with Tennent’s, which is also sponsor of long standing Glasgow rivals Rangers.
Tennent’s has continued to sponsor Rangers after it entered the Third division following the club’s administration, with many expecting a review of the deal to take place as a result.
Now, according to STV, the club fill face a resolution at its Annual General Meeting next month with a group of shareholders describing the sponsorship deal as ‘increasingly unpopular’.
The proposal will seek an end to the current sponsorship deal, with alternatives being that the club plays without a sponsor or replaces it with a charity’s branding on the team shirts.
A response by the club to the proposal has explained that such deals are "shaped not only by what the board considers to be in the company’s best interests but also the commercial position of the proposed sponsor, and the marketplace."
It was added that; "The terms and conditions upon which such transactions are entered into are commercially confidential. Whether a sponsor also wishes to contract with another football club is a matter for that sponsor, taking account of its own commercial interests and objectives.
"The directors consider that the approach suggested would seriously limit the number of potential sponsors available and hinder the company unnecessarily in any sponsorship negotiations that did take place. That is not considered to be in the best interests of the company and shareholders are therefore recommended to vote against the resolution."