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Friday, May 10, 2024

Credit Suisse collapse leaves sports sponsorships in limbo

The Credit Suisse logo will stay on the Swiss national football team’s training jackets and jerseys for as long as the bank exists

GENEVA – The takeover of Swiss bank Credit Suisse leaves many sports stars, teams and tournaments with a big question mark hanging over their lucrative sponsorship deals.

The Swiss national football team, the country’s top football division, tennis great Roger Federer, golf star Sergio Garcia and Zurich’s new stadium were all sponsored by the bank, which is being taken over by Swiss rival UBS.

The deal was hastily arranged on Sunday after Credit Suisse’s share price plunged.

Golf and equestrian events also relied on Credit Suisse money, as did the Swiss Sport Aid Foundation, which backs talented young…

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