MUMBAI: Standard Bank will end its 13-year sponsorship relationship with Cricket South Africa (CSA), Kaizer Chiefs and Orlando Pirates.
The contracts expire in May 2011.
Standard Bank’s sponsorship deal with CSA included the domestic Pro20 Series, sole sponsorship of the national South Africa One-Day International and Pro20 teams and all International Pro20s matches played in South Africa.
The bank said, "Changing business priorities at Standard Bank led to the decision to end its sports sponsorship contracts as part of the effort to improve business efficiencies across the group. Our marketing and communication efforts support and contribute to Standard Bank’s business strategy
"While our sponsorships of soccer and cricket have been extremely valuable in building our brand and engaging with fans, we have had to reassess the costs of these sponsorships and the benefits for Standard Bank in the light of changed business needs. This was a difficult decision as we have made significant investments in both soccer and cricket."
CSA CEO Gerald Majola expressed gratitude to Standard Bank for its loyal support of cricket over the past 13 years. "The bank‘s significant investment in the game leaves cricket in a very healthy state," he said.