Allianz has announced that its sponsorship with Saracens Rugby Club will be terminated at the end of the season following the club’s salary cap breach and relegation.
In a statement released by the insurance group, the company stated: “Allianz has taken the difficult decision to end its sponsorship of Saracens Rugby Club and stadium at the end of this season.
“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.”
The contract was due to expire in 2021 and means that next season Saracens’ ground will no longer be called the Allianz Park Stadium. However, as mentioned prior Allianz will still commit to the rugby club’s charitable foundation until the original expiry date.
Saracens, who have dominated the Premiership in recent years securing five out of nine championships, emphasised in a separate statement: “Saracens would like to thank Allianz for its support over the last eight years and the club is pleased that it has reaffirmed its commitment to the foundation until the end of the 2020/21 season.
“Saracens look forward to the remainder of the 2019/20 season working with the Allianz team around the club’s existing games at Allianz Park as well as its showpiece fixture, ‘The Showdown’ at Tottenham Hotspur Stadium on Saturday 28th March, where Saracens will play in Allianz’s special edition blue shirt.
“Saracens look forward to working with our stable of committed principal partners including Nike, Hy-Pro and Simba and we would like to thank them for their ongoing support. We are also excited about developing new commercial partnerships in the coming months.”
This season has been a turbulent campaign for Saracens, who after being docked numerous points, will be relegated from the Premiership due to the breaching of the division’s salary cap regulations.