Football Federation Australia is trying to prepare itself for the possibility that it may well lose its biggest sponsor. Hyundai is ready to leave its 15-year long affiliation with the governing body when their current contract expires in June 2020.
The South Korean multinational automotive manufacturer’s naming rights sponsorship is worth AU$6 million per annum, and even though FFA is frantically trying to renegotiate to extend it, it is looking ever more likely that they will need to start looking for new financing. Sources close to the discussions are suggesting that Hyundai Australia has notified FFA of their plans to let the deal come to an end when it expires in four months.
But there is still a chance that the sponsorship deal will be extended for another 12 months, going on until June next year. FFA is hoping that they will at least be able to arrange an agreement to cover them in the short-term which will give them time to find another big sponsor without having to absorb such an immediate hit to their bottom line.
Hyundai Australia is keeping mum on the partnership’s future, saying only that they are currently in talks with Football Federation Australia regarding their naming rights partnership with the organisation. Bill Thomas, Director of Marketing at the car manufacturer, has let it be known that his company will not be discussing anything in detail right now but will release further information when the time is right.
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