Philips to End PSV Eindhoven Shirt Sponsorship Deal
Philips will stop sponsoring PSV Eindhoven's Shirts after 30 years. Dutch champions PSV (Philips Sport Vereniging) today officially announced that main sponsor Philips will not extend their shirt sponsorship deal.
PSV just last weekend won the Dutch Eredivisie title for the 22nd time and for the first time since 2008. For the new season, PSV announced a new five-year kit deal with Umbro who will produce the PSV 2015-16 Kits, the last to feature Philips on the front.
Philips To Remain Important PSV Club Partner
Philips SV was founded as a team for Philips employees in Eindhoven in 1913, explaining the presence of Philips' name in the team name. The current sponsorship deal between PSV and Philips is worth between €5 million and €7m and ends in mid 2016 after more than 30 years.
Philips explained that the decision to step back as main sponsor of PSV was not for financial reasons, but because it fits with the organizational changes Philips is undergoing away from consumer electronics and more towards medical equipment.
PSV General Director Toon Gerbrands commented: “We understand the impact of this moment. But the ties remain strong and the ultimate goal is that PSV could increase the commercial revenues of the club with a new sponsorship deal. Philips and PSV are together convinced of this.”
In a similar move back in 2000, chemical company Bayer AG ended its shirt sponsorship of Bayer Leverkusen, also initially founded as an employees' team. Bayer AG remained as stadium name sponsor and the club's most important financial supporter, although the shirt is currently sponsored by LG.
Committed to remain an important club partner in the future, Philips will continue as name sponsor for Philips Stadion and also as an important secondary sponsor.
