Investec ends 10-year £40m deal to sponsor Test cricket in England
In what could be a big financial blow to the England and Wales Cricket Board, the South African investment bank, Investec has pulled out out of a 10-year £40m deal to sponsor Test cricket in England.
This move comes after the England & Wales Cricket Board sold its shirt sponsorship rights last year to an England-based bank NatWest, which is also a rival of Investec.
Investec have used a break clause in their contract when Natwest replaced Waitrose in May as the primary shirt sponsor of the England team.
An ECB spokesperson has informed that the deal would eventually end at the end of this year, and this gives the board a year to find out a replacement. England play a series against India, before the high-profile Ashes, and this provides the incoming sponsors good exposure to flourishing markets.
Investec has brought some good luck to England cricket, as this period included Ashes wins in 2013 and 2015 as well as a series win against India in 2014.
In what could offer a glimmer of hope to Pakistan, a small delegation of security personnel from the West Indies Cricket Board is scheduled to visit Lahore later this month.
The visit of the security delegation will also coincide with the arrival of Giles Clarke in Lahore on January 27 who heads the ICC’s special task force on Pakistan cricket.
“We have invited the West Indies to play two or three T20 matches before we go and play a similar number of matches against them in Florida in March-April before the full Test series in the Caribbeans,” Pakistan Cricket Board (PCB) senior official Najam Sethi was as quoted by the PTI.
During the two trips, the PCB has also decided to seek some legal resource against the Board of Control for Cricket In India for refusing to honour the MoU signed between the two boards in 2014.