Kia Motors has terminated its sponsorship of FC Spartak Moscow after more than five years as the automaker is "optimizing its expenditures." In a statement sent to SBD Global, the company said, "Unfortunately, due to the worsening of market conditions, we were forced to terminate our cooperation with the football club Spartak. Our decision was determined by considerations of optimizing our expenditures in difficult market conditions."
A two-year sponsorship contract between Kia Motors and Spartak was signed in '09 and was later extended. At the same time, a similar sponsorship contract was signed between the automaker and the Russian Premier League. That contract was not extended, and Kia said it will not renew the deal. Kia: "At present, we do not have plans for sponsorship of any sports clubs. However, if the economic situation improves, we will consider options for participation in projects aimed at development of Russian sports."
JERSEY SPONSOR STAYS PUT: The oil giant Lukoil, in which Spartak Owner Leonid Fedun is a major shareholder, remains Spartak's main shirt sponsor. Spartak's budget has not been revealed, but on Tuesday, general director Roman Askhabadze was quoted by the business daily Kommersant as saying that the $150M figure mentioned in recent press reports was "somewhat exaggerated."
Vladimir Kozlov is a writer in Moscow.
