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Another Cash Plus takeover?
... asWray & Nephew severs ties with NPL
Howard Walker, Observer writer
Saturday, September 01, 2007
PRICE ... it was an amicable discussion because we understand the plight of the clubs
Cash Plus Jamaica Limited will be the new sponsor of the Jamaica Football Federation's (JFF) National Premier League (NPL) following the withdrawal of long-time sponsor J Wray and Nephew, the Sporting World understands.
Both the JFF and J Wray and Nephew released statements regarding their amicable split and that an announcement will be made shortly regarding the sponsorship of the league.
But Sporting World understands that the investment entity - which has taken the financial sector by storm - offered the JFF a deal they couldn't refuse, valued at nearly twice the $125m five-year Wray and Nephew deal.
Cash Plus could not be reached for a comment as principal owner Carlos Hill was locked up in several meetings and calls to publicist Sherina Garcia went to her voicemail.
Cash Plus has recently expanded its tentacles into sports, horse racing to be exact, and has taken over the sponsorship of the prestigious Superstakes from Red Stripe.
J Wray and Nephew, title sponsor since 2002, said they have agreed to release the JFF without penalty from its binding five-year contract that was signed only last year until 2012.
Andrew Price, Wray and Nephew's Brand communication and promotions manager, told Sporting World that his organisation made the decision, only in the interest of football.
Said Price: "It was an amicable discussion because we understand the plight of the clubs. We at Wray and Nephew are not able to do more than what we are doing right now. We give it our blessings."
He continued: "The discussion was to look at the whole viability of the clubs and if the clubs can garner more support than we are giving the JFF, in the interest of the development of the sport we would not come in the way.
"We decided that we would get ourselves released from the contract without a penalty so that corporate individuals who can come and assist the clubs in a more tangible way at this point in time, has the opportunity to do so," noted Price, who is also coach of premier league outfit Boys' Town.
Meanwhile, a JFF press statement said the decision of J Wray and Nephew to release them without penalty from the contract has come after months of "very amicable discussions regarding the sponsorship of the league".
"At all times during the discussions Wray and Nephew has listened to the challenges facing the clubs in respect of the level of sponsorship and has always made it clear that the company would not stand in the way if increased sponsorship was secured. "It is against this background that the JFF accepts the position of J Wray and Nephew. The JFF would like to place on public records its appreciation.."
According to the statement, the JFF is confident that J Wray and Nephew will be a lifetime partner of Jamaica's football programme.
The NPL is scheduled to begin on September 23.
... asWray & Nephew severs ties with NPL
Howard Walker, Observer writer
Saturday, September 01, 2007
PRICE ... it was an amicable discussion because we understand the plight of the clubsCash Plus Jamaica Limited will be the new sponsor of the Jamaica Football Federation's (JFF) National Premier League (NPL) following the withdrawal of long-time sponsor J Wray and Nephew, the Sporting World understands.
Both the JFF and J Wray and Nephew released statements regarding their amicable split and that an announcement will be made shortly regarding the sponsorship of the league.
But Sporting World understands that the investment entity - which has taken the financial sector by storm - offered the JFF a deal they couldn't refuse, valued at nearly twice the $125m five-year Wray and Nephew deal.
Cash Plus could not be reached for a comment as principal owner Carlos Hill was locked up in several meetings and calls to publicist Sherina Garcia went to her voicemail.
Cash Plus has recently expanded its tentacles into sports, horse racing to be exact, and has taken over the sponsorship of the prestigious Superstakes from Red Stripe.
J Wray and Nephew, title sponsor since 2002, said they have agreed to release the JFF without penalty from its binding five-year contract that was signed only last year until 2012.
Andrew Price, Wray and Nephew's Brand communication and promotions manager, told Sporting World that his organisation made the decision, only in the interest of football.
Said Price: "It was an amicable discussion because we understand the plight of the clubs. We at Wray and Nephew are not able to do more than what we are doing right now. We give it our blessings."
He continued: "The discussion was to look at the whole viability of the clubs and if the clubs can garner more support than we are giving the JFF, in the interest of the development of the sport we would not come in the way.
"We decided that we would get ourselves released from the contract without a penalty so that corporate individuals who can come and assist the clubs in a more tangible way at this point in time, has the opportunity to do so," noted Price, who is also coach of premier league outfit Boys' Town.
Meanwhile, a JFF press statement said the decision of J Wray and Nephew to release them without penalty from the contract has come after months of "very amicable discussions regarding the sponsorship of the league".
"At all times during the discussions Wray and Nephew has listened to the challenges facing the clubs in respect of the level of sponsorship and has always made it clear that the company would not stand in the way if increased sponsorship was secured. "It is against this background that the JFF accepts the position of J Wray and Nephew. The JFF would like to place on public records its appreciation.."
According to the statement, the JFF is confident that J Wray and Nephew will be a lifetime partner of Jamaica's football programme.
The NPL is scheduled to begin on September 23.
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