Investec "pulled out" of a 10-year, £40M ($49M) deal to sponsor test cricket in England, according to Nick Hoult of the London TELEGRAPH. The South African investment bank "pulled the plug on the deal after the England & Wales Cricket Board sold its shirt sponsorship rights last year" to banking rival Natwest. The Investec deal, signed in '11, was "one of the longest in sport but will end after the West Indies series at the end of this summer." Natwest replaces Waitrose in May "as the shirt sponsor of the England team." Investec "used a break clause in the contract." The next deal will include naming rights to a five-test series against India in '18, giving the ECB "massive exposure in Asia," and the '19 Ashes (TELEGRAPH, 1/6). In London, Richard Hobson reported although there is "no suggestion of the ECB doing anything untoward," a source suggested that Investec "sees enough of a commercial rivalry between itself and NatWest to influence the announcement." Malcolm Fried, an adviser at Investec, said, "Due to a change in our marketing approach we will look to implement a wider range of marketing activities" (LONDON TIMES, 1/7).
