Fall of Credit Suisse has put sports partnerships in doubt

• Fall of Credit Suisse has put sports partnerships in doubt.
• Credit Suisse’s share price plummeted on Sunday.
• UBS has its own portfolio of Formula One, athletics, and ice hockey sponsorships.

Due to the acquisition of the Swiss bank Credit Suisse, numerous athletes, teams, and tournaments’ lucrative sponsorship deals are in jeopardy.

The Swiss public football crew, the nation’s top football division, tennis incredible Roger Federer, golf star Sergio Garcia and Zurich’s new arena were undeniably supported by the bank, which is being taken over by Swiss adversary UBS.

After Credit Suisse’s share price plummeted on Sunday, the transaction was quickly arranged.

The Swiss Sports Aid Foundation, which provides financial support to promising young athletes from underrepresented sports, as well as golf and equestrian competitions depended on funds provided by Credit Suisse.

Credit Suisse is proud and stated, “Our sponsorships reflect our passion for excellence, sustainability, and partnership.”

“The bank has always been a reliable partner for sports,” according to the Neue Zurcher Zeitung, “the bank has always been a reliable partner for sports.”

A Credit Suisse spokesperson told, “For the time being, we will continue our corresponding commitments unchanged.”

However, the deals may not be extended because UBS has its own portfolio of Formula One, athletics, and ice hockey sponsorships.

Since 1993, Credit Suisse has been the primary sponsor of the governing body of the Swiss Football Association (SFA).

Since the bank joined, the men’s national team, which is ranked 12th in the world, has had some of its best years.

Switzerland has qualified for the last five World Cups, reaching the last 16 in four of them, despite only participating in one tournament from 1966 to 2006.

The contract ends on June 30 of the following year. According to Blick, the annual value is about 5.4 million dollars, or five million Swiss francs.

The Credit Suisse logo will remain in the public groups’ preparation coats and shirts however long the bank exists, SFA representative Adrian Arnold expressed in front of Saturday’s Euro 2024 qualifier against Belarus.

Glyn KIRK / AFP “We had good discussions with our contacts at Credit Suisse, who assured us that the existing contracts would be honored,” Arnold stated. Federer is by far the most well-known person associated with Credit Suisse.

“We would like the partnership to continue after that, in any form,” the statement reads.

Additionally, Credit Suisse is the primary sponsor of Switzerland’s bid to host the women’s European Championships in 2025. The takeover comes just before the April 4 deadline for making a decision on the venue.

The bank is the main sponsor of the Super League, which is the top football league in Switzerland with 10 teams and includes well-known teams like Young Boys, Grasshopper, FC Zurich, and FC Basel.

Blick stated that the contract is worth approximately $8.7 million per season and will be in effect until 2025.

The bank’s name appears on all team shirts and on advertising boards around the stadiums, putting money into each club and tournament.

Grasshopper and FC Zurich are expected to play at a proposed new football stadium in Zurich that the bank won the naming rights to in 2019.

However, the anticipated “Credit Suisse Arena” has been delayed. It was supposed to open in the middle of 2022, but little has been done, and its future now seems even less certain.

Credit Suisse is most commonly associated with Federer.

He is still a brand ambassador for Credit Suisse, despite the fact that Switzerland’s greatest sports star retired in September.

The bank said, “The bank was on board for his transition into a career after tennis.” We anticipate many more years of being together.”

Rolex, Lindt, Mercedes-Benz, and Moet et Chandon are just a few of Federer’s other sponsors.

The Federer-initiated Laver Cup, helmed by Bjorn Borg and John McEnroe and featuring six of the world’s best men’s tennis players against six from Europe, is also sponsored by Credit Suisse.

When AFP attempted to contact the Laver Cup, it did not respond.

Credit Suisse sponsored the European Masters golf tournament in Crans-Montana, which was won by Spanish former world number two Sergio Garcia in 2017.

Yves Mittaz, director of the European Masters tournament, stated that the event is not in danger because the contract lasts until the 2024 tournament.

He stated to the newspaper Tribune de Geneve, “There is no reason to panic.”

“That’s the sport business: Others arrive as sponsors depart.

Credit Suisse is a major sponsor of the Concours Hippique International de Geneve and White Turf in St. Moritz, an extravagant, exclusive event that features horse racing on a frozen lake. In equestrian sports, Credit Suisse is a major sponsor.

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