Saracens have begun sounding out new sponsors as they prepare to cut ties with Allianz.
The German insurance company has been the club’s principal sponsor since 2012 and gives its name to their stadium.
Allianz revealed in November, after Saracens confirmed they were not appealing against their Premiership salary breaches, that it would be holding talks with the club. It added in a statement: “At Allianz, we act with transparency and integrity and living up to these high standards is very important to us.”
Allianz agreed in December 2017 that its sponsorship deal with Saracens, estimated to be worth around £2million a year, would run until at least 2021. The company, however, is now set to cut those ties and it is understood the club are already sounding out potential new backers.
The news is a blow to Saracens, who will play in the Championship next year after being automatically relegated from the Premiership. The club have already been hit with a fine of more than £5m for their salary cap breaches and the loss of Allianz would be another blow.
Saracens’ search could prove problematic, given that as well as not playing in the top flight next season, they will not return to European action for at least two seasons. The club’s efforts, however, could be helped by retaining the likes of England stars Owen Farrell and Maro Itoje, who are both expected to stay.
