RBS to end Williams F1 sponsorship in 2010

LONDON: The Royal Bank of Scotland (RBS) will end their sponsorship of the Williams Formula One team at the end of the 2010 season, the bank said in a statement on Wednesday.

"We recognise that we are now operating in a very different economic environment and have been reviewing all of our activities since October," RBS said.

"It is imperative that we respond to the reality of the situation that we face and that we do so in an orderly way that respects the commercial agreements we have in place and the implications for our partners and the jobs they support."

RBS have sponsored Williams since 2005 and renewed their deal for a second three-year term in 2007.

Source:http://sports.timesofindia.indiatimes.com/Voices-raised-for-early-IHF-polls/articleshow/4191711.cms

RBS signs Sachin, others for Rs 1600 crore during recession

LONDON: The Royal Bank of Scotland (RBS) has spent Rs 1600 crore on sponsorship deals with top sportsperson including batting maestro Sachin Tendulkar just days before being bailed out by the government, a media report said on Sunday.

According to a report in the Sunday Times, to please its clients, former RBS chief executive Sir Fred Goodwin signed five-year contracts with Tendulkar and other sporting personalities last October, just weeks before his ouster from the company.

"Royal Bank of Scotland, bailed out with billions of pounds of taxpayers money, hired top sports stars on reckless contracts to entertain clients as part of a 200 million pound sponsorship binge," the newspaper reported.

"Sachin Tendulkar, the Indian cricket hero, signed a five-year deal just weeks before Goodwin was ousted," it added.

However, RBS, which announced a loss of 28 billion pound last month, the biggest in British commercial history, said it was obliged to honour the deals.

Reacting to this, a member of the Treasury Select Committee, John Mann said, "They (RBS) have been reckless yet again. This doesn't seem to be a bank that could do anything in moderation. It now needs to realise the golden days are over."

Source: http://cricket.timesofindia.indiatimes.com/RBS_signs_Sachin_others_for_Rs_1600_crore/articleshow/4133166.cms