Report: Industry sources indicate whether Spurs will end AIA sponsorship
Despite pressure from the British government on Tottenham Hotspur to sever ties with its main shirt sponsor AIA, industry sources suggest the club will not terminate the deal with the Chinese life insurance group. AIA has been the main shirt sponsor for Spurs since 2015. The club announced an extension on its deal with the […]
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Despite pressure from the British government on Tottenham Hotspur to sever ties with its main shirt sponsor AIA, industry sources suggest the club will not terminate the deal with the Chinese life insurance group.
AIA has been the main shirt sponsor for Spurs since 2015. The club announced an extension on its deal with the firm in 2019 (TottenhamHotspur.com) which could last a further eight years and is believed to bring in around £320 million over that period.
(Photo by Alex Grimm/Getty Images)
That deal has been brought into disrepute recently though, as it has emerged that the AIA group is in support of controversial national security laws in Hong Kong. The situation has been described as a human rights issue and has been condemned by British political groups (The Times).
It was unclear whether Daniel Levy and the club would agree to the government’s firm suggestion of severing all ties with the AIA group, but according to industry insiders and Football Insider, the club is set to stick to the agreement in place.
Since the British government made its stance clear, it has been reported that the All-Party Parliamentary Group in Hong Kong has also written to Tottenham Hotspur. The group has apparently asked Daniel Levy to reconsider their affiliation with the AIA group.
According to insiders working in the sports sponsorship industry though, “Early termination fees would apply unless Spurs’ legal team are able to argue that AIA’s stance on Hong Kong’s national security law represents a breach of contract, which it is understood is improbable.”
Therefore, it appears unlikely at this time that Spurs would be able to break free of the agreement, regardless of whether they want to or not.
Spurs Web Opinion
This is a really tricky situation Spurs find themselves in. Naturally, the club and everyone associated with it will want to ensure human rights issues are not being ignored, but at the same time, any severe penalty fees for cancelling the sponsorship agreement would have a huge impact on the club too. I’m just glad it’s not me having to make these kinds of decisions.
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The post Report: Industry sources indicate whether Spurs will end AIA sponsorship appeared first on Spurs Web - Tottenham Hotspur Football News.