SA Rugby has confirmed it received notification from Steinhoff International of the company’s withdrawal from all sponsorship activities.
“We have been kept informed by Steinhoff of their thinking and they have confirmed their intention to withdraw from their sponsorship of Sevens rugby with immediate effect,” SA Rugby CEO Jurie Roux said in a statement.
This development by the beleaguered company means that the Rugby men’s and women’s man’s and SA Rugby Sevens Academy teams will no longer carry the company’s logo on their jerseys.
The “accounting irregularities” scandal that has rocked the company has led to the resignation of a number of its executive and has seen the company’s shares crashing.
Roux said the withdrawal of the sponsorship by the company was handled in an amicable manner.
“It has been completed amicably and by agreement. We’d like to thank Steinhoff for their commitment and support over the past two seasons.”
He said SA Rugby had already started the process to identify an alternative sponsor for its national teams.
“We believe all our national teams have characteristics, values and a unique South African DNA that makes them highly attractive to commercial partners.”