After 30 years, Philips to stop sponsoring PSV Eindhoven’s shirts
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Philips is to stop sponsoring the shirts at football club PSV Eindhoven after 30 years, website Voetbal International said on Tuesday.
The current sponsorship deal ends in mid 2016 and Philips says the move fits in with the changing face of the company, VI reported. Philips is focusing more on medical equipment than consumer electronics.
Philips says it wants to remain involved with the club but no concrete agreement has yet been reached. The current sponsorship deal is worth between €5m and €7m, VI said.
PSV said earlier it is looking for a new sponsor for the back of the shirt after credit provider Freo said it was pulling out at the end of this season.
The club was founded in 1913 as a sports club for Philips’ employees – Philips Sport Vereniging Eindhoven – and took the Eredivisie league title for the first time since 2008 on Saturday.
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