Gills shirt sponsor ready to stump up more cash
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by business editor
Trevor Sturgess
As tension mounts ahead of
Saturday's play-off final, Gillingham Football Club’s shirt sponsor
is preparing to stump up more cash if the Gills triumph at
Wembley.
Just as sponsorship tends to fall
when clubs are relegated, it rises when they are promoted.
Kent Reliance Building Society signed
a three-year deal worth around £400,000 when the club was in League
1. But that first season, the Gills were relegated to League 2 and
the Chatham-based mutual wanted to reduce the amount of money if
paid the club.
Kent Reliance argued the club's
relegation meant the value of the sponsorship deal should fall. But
club chairman Paul Scally was reluctant to concede any significant
loss of revenue from the sponsor.
There were lengthy talks between
both sides amid speculation that Kent Reliance might pull out if it
did not get its way. But eventually, their differences were settled
and they signed a revised funding deal for the current season and
the next.
At the time, chief executive Mike
Lazenby said the society had reaffirmed the contract for the next
two years, "and possibly longer".
Mr Lazenby declined to say how much
money was involved. But industry sources suggested it was likely to
be more than the £55,000 average annual shirt sponsorship for
League 2 teams.
Now the Gills are on the brink of
bouncing straight back to the higher division, Kent Reliance is
facing a higher bill. But Mr Lazenby says he is delighted with the
team’s success and will be at Wembley for the final. Last year, the
mutual reported record profits and remains the UK's fastest-growing
building society.
Mr Lazenby confirmed talks about a new higher sponsorship
arrangement would begin before the start of next season if the
Gills triumph on Saturday. "It’s part of the deal and I’m happy to
pay it," he said.
Monday, May 18 2009
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