Date:Saturday September 27 2008
Wigan Athletic main club sponsors JJB have been dramatically hit by the current financial situation and yesterday warned investors over its ability to continue as a going concern
JJB have sponsored the Latics since Dave Whelan took over the club and indeed at times the Latics have been a good advertising tool for the sportswear company.
With the worlds finances in turmoil and shirt and club sponsors close to bankruptcy it may be about to hit the high spenders of the Premier League that it is now time to draw the purse strings a little tighter.
Its not just have the Latics sponsors that have been crying poverty, a report in todays Guardian tells of other clubs sponsors feeling the pinch, there is XL the travel company who`s logo appeared on West Ham shirts, they went to the wall earlier this month and found themselves off the Hammers tops, AIG who sponsor Manchester United and Newcastles Northern Rock both had to be rescued by the US and UK governments respectively.
Hull City sponsors Kcom have reported a 13% down turn in value this week and the company`s value has halved since Hull City gained promotion in May, fellow promotees Stoke City are sponsored by the Britannia Building Society and we know what problems mortgage lenders are having, the society has declared a 36% loss.
Middlesbrough shirt sponsors Garmin, the sat nav people, have also revealed that they are expecting a rough year and their share value has halved since July.
Latics sponsorship deal with JJB ends after this season and the club are actively looking at new investors not only for the players shirts but also for naming rights on the stadium, the trouble is the world is in financial crisis and there couldn`t be a worse time to fish for new investors.
Perhaps the gravy train that is the Premier League is about to become derailed, but with the visit of Manchester City to the JJB stadium tomorrow shows another side to the crazy world of football finances, City have paid an enormous amount for Robinho and have been reported as willing to pay the obscene amount of £136 million for Ronaldo of Manchester United
This extravagance is quite mind blowing in the current climate and with that sort of money behind them Manchester City just may have chosen the right time for super rich investors to turn them in to a world power in football terms.
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Date:Saturday September 27 2008
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