Credit Suisse collapse leaves sports stars Roger Federer and Sergio Garcia in limbo over sponsorship deals
- Swiss bank has long-standing deals with tennis and golf stars, as well as Switzerland’s national football team
- Rival UBS took over the bank in hastily arranged deal on Sunday after share price plunged
The collapse of Credit Suisse leaves many sports stars, teams and tournaments with a big question mark hanging over their lucrative sponsorship deals.
Among those backed by the Swiss bank, which is being taken over by rival UBS, are the country’s national football team and its top football division, tennis great Roger Federer, golf star Sergio Garcia and Zurich’s new stadium.
UBS took charge in a hastily arranged deal 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 athletes in minority sports.
“Our sponsorships reflect our passion for excellence, sustainability, and partnership,” Credit Suisse boasts.
The Neue Zurcher Zeitung newspaper said no matter how much Credit Suisse got embroiled in scandals or rejigged its strategies, “the bank has always been a reliable partner for sports”.
