Cinch pulls plug on SPFL deal two years early
The SPFL is searching for a new title sponsor after cinch announced it is terminating its deal at the end of the current season, two years early.
The used car dealer signed a five-year deal in 2021 but has exercised an early exit option.
At the time, the agreement, understood to be worth £1.6 million per season, was described as the SPFL’s ‘largest-ever’ sponsorship.
It prompted a huge fall-out with Rangers, though, the Ibrox club refusing to promote cinch, claiming it conflicted with the used car business, Park’s of Hamilton, owned by former chairman Douglas Park.
The row ended up being settled in the courtroom, with the SPFL agreeing to rejig the contract to exclude Rangers from promoting cinch in Ibrox or at media conferences.
The SPFL later apologised and had to pay legal costs.
Confirming the news, a statement from the SPFL said: “The Scottish Professional Football League has announced that cinch has exercised its right to conclude its title sponsorship deal at the end of the current season.
“The SPFL and cinch signed a five-year contract in 2021, which gave cinch the option to exit after three seasons. The deal played its part in helping the SPFL deliver record-breaking revenues back to its 42 clubs in the last 12 months.”
SPFL chief executive Neil Doncaster said: “Working closely with Scottish Football Marketing, we will now begin the process of securing a new title sponsor for next season and beyond, and anticipate strong interest from businesses which recognise the unique value of partnering with Scotland’s premier football competition.”
Robert Bridge, cinch’s chief customer officer said: “As cinch looks to the future, its marketing focus is evolving to ensure continued success and growth.”