European soccer clubs pick some questionable sponsors

10/10/2015  1 Comment  [Jump to last]
Margot Patrick of the Wall Street Journal on European football sponsorship that is attracting smaller companies that are harder to vet, like Power8 which lured Everton and Espanyol into partnership deals last year before disappearing without making good on sponsorship payments.

As Ms Patrick writes, Power8s name was already on display advertising at Goodison Park, "alongside better known sponsors such as sportswear maker Umbro and Thai beer Chang" when the Spanish club struck a 45m arrangement with the company registered in Costa Rica and Spain.

Police in Taiwan now allege Power8 used the sponsorships to lure hundreds of investors in Asia into buying shares in the company before disappearing with their money. Emails to Power8 officials bounced back, and a message on its website says operations are temporarily suspended. Espanyol says Power8 is overdue on its sponsorship payments and has started legal action. An Everton spokesman declined to comment.

» Read the full article at Wall Street Journal


Reader Comments (1)

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Andy Mack
1 Posted 13/10/2015 at 08:56:36
Espanyol were planning on getting £45m! Wonder what deal our power brokers hammered out, £4.50? For once our ineptness works for us.

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