West Ham sponsors go bust

West Ham’s sponsors Alpari have gone bust after turmoil in the foreign exchange markets following a change of policy on the Swiss franc.   They sponsored both the shirts and one of the main stands in a deal worth £3m a year.

West Ham’s sponsors Alpari have gone bust after turmoil in the foreign exchange markets following a change of policy on the Swiss franc.   They sponsored both the shirts and one of the main stands in a deal worth £3m a year.

In a statement issued on their website Alpari said, ‘The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.’

West Ham have lost a sponsor once before when Excel Holidays went bust in 2008.   On that occasion they put iron on patches over the sponsor logo, but it is not clear what plans the club has for Sunday’s match with the news having taken them by surprise.

The club is unlikely to secure a sponsor for the rest of the season, but is looking forward to a lucrative new deal when they move from the Boleyn Ground to the Olympic Stadium.   They are understood to be talking to three companies.

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