Friday March 22,2013 : EARLY EXIT FROM SWANSEA FC SPONSORSHIP FOR 32RED
Online gambling firm gets GBP 950,000 compensatory payment for ending agreement a year early
Online gambling group 32Red has agreed to a premature end to its five year sponsorship agreement with the Swansea City football club to allow the club to negotiate with new potential parties interested in further developing its Liberty Stadium.
Both parties stressed that the decision to end the sponsorship was mutual and amicable, and in return for ending its sponsorship a year early the online gambling firm has received a compensatory payment of GBP 950,000.
Swansea FC vice-chairman Leigh Dineen said the club was deeply appreciative of 32Red's support since June 2009, whilst 32Red CEO Ed Ware described the relationship between the two companies as "fantastic".