Standard Bank will not renew its Proteas sponsorship
The bank has cited reputation damage through its affiliation with CSA as one of the main reasons for this decision.
Standard Bank informed Cricket South Africa (CSA) on Friday that it will not renew its agreement as the title sponsor of the South African National Men’s Cricket Team, known as the Proteas, when it concludes on 30 April 2020.
The bank has cited reputational damage through its affiliation with CSA as one of the main reasons for this decision.
Standard Bank has sponsored the National Cricket Team, and the CSA development programme through the Regional Performance Centres, for years.
Standard Bank Group Chief Marketing and Communications Officer, Thulani Sibeko said the decision not to renew the sponsorship agreement was not taken lightly.
"Cricket is a national asset valued by millions of South Africans, many of them our clients, and is an integral part of the bank’s heritage," said Sibeko in a statement.
The Bank's decision comes hot on the heels of an open letter by another major sponsor of CSA on Thursday, calling for the CEO and President of CSA to resign immediately.
ALSO READ: Sponsor calls for heads to roll at Cricket SA
“Standard Bank is committed to upholding the highest levels of leadership, integrity and governance. In light of recent developments at CSA, which are a culmination of long-standing problems which have damaged Standard Bank’s reputation, it has decided not to renew its partnership with CSA," said Thulani.
He added that Standard Bank considers it appropriate and fair to give CSA adequate notice so that it may explore alternative sponsorships to replace Standard Bank.