Some of the Spanish national team's "main sponsors, including mobile phone company Movistar and oil company Cepsa, have rallied behind the World Cup holders despite their shock exit from the tournament on Wednesday," according to Iain Rogers of REUTERS. Local media reported on Friday that "some sponsors might attempt to renegotiate their contracts" with the Spanish Football Federation (RFEF). Cepsa tweeted, "Nobody can take away from us what has already been won based on effort and talent. Insurance company Pelayo Seguros added on its feed, "Now more than ever #EveryoneWithLaRoja. Thank you team!" The Spanish unit of electronics company LG also "expressed their gratitude to the players who helped bring Spain unprecedented success." The company tweeted from its @LG_ES account, "To each and every one of you, because #WeAreOne. #ThankyouForever!" (REUTERS, 6/20).
RENEGOTIATIONS POSSIBLE: AS reported Spain's elimination has "meant a hard blow for the sponsors of La Roja, which are considering renegotiations with the RFEF regarding their current campaigns." The RFEF earns about €70M ($95M) annually in sponsorship fees from brands including adidas, Nissan and Gillette. The "worst is that all of them have very expensive ongoing commercial campaigns, for which they now want to be compensated in some form." One possibility is the RFEF "offering discounts on the contracts, or extensions at lower prices." It is a "complicated subject in which the RFEF is right legally, but in which the brands will fight to at least save the furniture" (AS, 6/20).
