South Africa’s Standard Bank dropped a bombshell for South African sports fans when it announced it was withdrawing from three sports sponsorships.

The bank, which is 20 percent owned by the Industrial Commercial Bank of China, said on Friday that the sponsorship deals with Cricket South Africa and Premier League soccer teams Kaizer Chiefs and Orlando Pirates would not be renewed in May 2011.

According to the South African Press Association (SAPA), the bank cited “changing business priorities” as part of an effort to cut costs.

Last month Standard Bank announced it was laying off 2,000 staff in South Africa and Britain.

Cricket South Africa (CSA) said it had started searching for a new sponsor after a 13-year partnership with the bank.

“It is clearly an economic decision on their part. We have set up a sponsorship panel to find a replacement,” CSA president Mtutuzeli Nyoka said.

“Standard Bank’s reasons for not renewing the contract are quite clear.” Kaizer Chiefs accepted the bank’s decision to terminate its decade-long partnership with the club.

“It is not a blow, as we will go out and find a new partner to replace the bank,” said manager Bobby Motaung.

Standard Bank was not, however, the main sponsor of Chiefs and Pirates.SAPA said that Cellphone company Vodacom pumped around 200 million rands (28.6 million U.S. dollars) to each club over three years.

Puma confirmed a one-year extension to its technical kit partnership with the Premier League club, ailment Tottenham Hotspur.

The contract, which will now run until the 2011/2012 season, will see Puma continue to supply the club with their technical and replica kit and training wear.

Roger Harrison, Puma UK marketing director commented: ‘Our partnership has proven to be very successful in the past. Tottenham Hotspur continues to grow and they continue to be a great fit for the Puma brand. This agreement underlines our strong commitment to expand our position in the global football market.’

In addition to sponsoring Tottenham Hotspur, Puma also has kit sponsorships with Newcastle United, Cardiff City, Burnley, Coventry City, Dundee, Hibernian, Motherwell, Preston Northend and Stirling Albion.

Alltech’s founder expects his company’s investment in the World Equestrian Games to offer quite a profit, leading to $100 million in new business by this time next year.

It’s the endgame of a sponsorship that surprised many when it was announced in June 2006, given Nicholasville-based Alltech’s small number of equine products and relatively low profile. It also was a major learning experience for the company, founder Pearse Lyons told the Herald-Leader.

“It has been absolutely worth it,” he said.

Jack Kelly, who oversaw the Games’ organizing committee until mid-2008, called it the “most unusual and amazing sponsorship” he’s seen over his career of working with events that attracted $200 million in sponsorships.

“It was unique given the amount of the sponsorship for a first-time sponsor and the ability of a company to build all or a great part of their marketing around the sponsorship every day,” Kelly said.

Lyons told the Herald-Leader that the $100 million in new business — at least that much, he says — will come from several of Alltech’s divisions.

Sales of its Kentucky Ale beer have doubled year over year since the 16-day Games, which ended Oct. 10. “We expected there to be a spike during the Games,” Lyons said, “but we didn’t expect there to be another spike after the Games.”

The Games also saw Lyons meet a leader of one of the country’s largest beer distributors, he says: L. Knife and Son Cos. The company doesn’t distribute the Kentucky Ale family of beers yet, Lyons said.

The centerpiece, of course, is the company’s primary business: equine feed supplements, which have seen sales rise since the sponsorship was announced. In 2006, they accounted for 2 percent of Alltech’s roughly $300 million in annual sales. Now they’re up to about 5 percent of $500 million in sales.

One of those that’s spending more is California-based O.H. Kruse Grain and Milling, which buys ingredients from Alltech for its equine products. The company was impressed enough to become Alltech’s “official feed partner” for the Games, said Dave Spaulding, a sales manager.

“They’re going to become a bigger player,” he said of Alltech.

Rick Burton, a professor of sport management at Syracuse University, said Lyons’ estimation that Alltech could yield $100 million in new business from the sponsorship is “very feasible.”

“Even if they would only make $30 million, they could say it’s break-even, and this is something that raised their awareness,” he said.

While the finance people at the privately held company are crunching the numbers — “we have to be a successful business,” Lyons reiterated — the company’s leader focuses primarily on how the Games bolstered Alltech’s image.

Brewer Fosters Group has signed an agreement between its beer VB and Surfing Australia.

The new deal guarantees VB the tag as “The Beer” of Surfing Australia for the next three years, allergist along with its state branches (NSW, asthma VIC, try TAS and WA).

VB will be supporting the grass roots of Australian surfing via the new Surfing Australia “VB Boardriders Club” program.

Surfing Australia CEO Andrew Stark said he was excited to be partnering with VB.

“VB is such an iconic national brand and a great partner for the iconic national sport of surfing,” he said. “This sponsorship will flow down to state branches, grass roots club surfing and even something for the recreational surfing community. The partnership greatly assists Surfing Australia with its mission to develop the sport across Australia.”

Fosters Group representative Paul Donaldson said working with Surfing Australia would allow VB to reach the lifeblood of Australian surfing.

“VB is keen to really support grass roots surfing in Australia. You won’t see VB logo’s on the boards of the next super-grom – that’s not what this is all about. We want to support the clubs and surfers who are in the carpark at Winkipop, Newcastle or Yallingup at 6am in the middle of winter and run the club events rain, hail or shine. We know VB is loved by many real surfers all over the country, so this is one way we can give something back for all their support over decades. After all, there is simply nothing better than an ice cold stubby or longneck after a long session.”

Adding to the agreement, VB will be offering support sponsorship to the Australian Surfing Festival, comprising of the Australian Longboard, Open Surfmasters and Stand Up Paddleboard (SUP) Titles, as well as an array of events on the state branch calendars and Australian surfing’s night of nights, the Australian Surfing Awards.

The deal also incorporates VB’s support sponsorship of some of the country’s most iconic events including the Margaret River Prime Pro Surfing event in Western Australia and the Noosa Festival of Surfing in Queensland.

Financial details of the deal were not released

American surfer Kelly Slater won’t pick up a long rumoured $US10 million sponsorship bonus for winning a record 10th world surfing title, instead opted to take a stake in the company.

Quiksilver chief executive Bob McKnight revealed his company’s longterm superstar client was given the option of a hefty bonus to reward his ground-breaking achievement, but the 38-year-old American instead opted to take a 3 per cent of the giant surf company – that’s about $US22 million of a  $US740 million business – so is projected to become far richer from that choice than he would have by collecting a lump sum speculated about for so many years.

McKnight said the $US10 million figure was just speculation, although Slater would still receive a seven figure sum from the company for sealing his 10th world title in Puerto Rico last week.

“The answer is no. I think Kelly probably started that rumour by the way! It was meant years ago as a joke and then it just came to life on its own,” said McKnight, who admitted that Quiksilver has grown 10-fold since Slater came on board to endorse its products 20 years ago.

“We talked to Kelly about it. He obviously gets a big bonus … it’s into seven figures.

“We sat down and talked to Kelly about all that ($US10 million). We said ‘do you want us to put the money to something like that or would you rather us to back it with ownership in the company which will make you 10-fold that in years to come?’

“And he said, ‘definitely stock.’

“Everybody asks that question about the $US10 million bonus and I just go, `isn’t it great when you write a big cheque like that and they take half out to taxes immediately?’

“Ownership of the company is a forced savings thing for him and we’re a public company so he can set up for the rest of his life and take care of his family and we think that’s a lot more important than a one time bent-for-hell bonus like that.”

Movie and book deals are also in the works for Slater, and soon he will unveil his Kelly Slater Artificial Wave company project, which has the potential to change the face of surfing.

Slater and McKnight, in conjunction with the University of Southern California, have developed technology which produces a perfect circular artificial wave.

THE 2010 Grand Slam of Darts will be sponsored by the UK newspaper, medicine Daily Mirror.

The tournament, doctor broadcast live in the UK on ITV4 from 13th to 21st November, will now be named the Daily Mirror Grand Slam of Darts.

The Daily Mirror will celebrate their sponsorship of the Grand Slam of Darts with an eight-page pull-out about the event in Tuesday’s newspaper, beginning their comprehensive coverage of the tournament.

“We’re delighted to welcome the Daily Mirror as the title sponsors of the Daily Mirror Grand Slam of Darts,” said PDC Chairman Barry Hearn.

“The tournament has grown in stature since being introduced in 2007 and to have the backing of such a highly-respected major national newspaper is a further indication of its popularity.

“Darts provides sponsors with outstanding value for money, which is of critical importance in these challenging times and we look forward to a long and successful relationship with the Daily Mirror.”

The estimated £450,000 deal was brokered by Mean Broadcast and gives the paper naming rights, full branding at the event and on tickets as well as broadcast advertising opportunities.

generic order Arial,Helvetica,sans-serif; font-size: x-small;”>The United States Tennis Association (USTA) and Xerox have announced that Xerox has agreed to a five-year partnership to officially sponsor the US Open and Arthur Ashe Kids’ Day presented by Hess, starting next year.

Xerox will serve as the exclusive office equipment and document technology and services provider for both the US Open and Arthur Ashe Kids’ Day. The partnership includes on-site presence, media support of tournament television broadcasts and a robust relationship with USOpen.org, the official website of the US Open.

On-site at the US Open, Xerox will be provided with both courtside and ring signage in Arthur Ashe Stadium and the Louis Armstrong Stadium as well as other tournament courts.

As a partner with the US Open, Xerox document technology will be integrated in all key areas of the US Open, including tournament operations, business operations and the US Open Media Center. Xerox will work with the USTA to improve the efficiency and effectiveness of communication to key constituencies through the use of Xerox’s document technology and services.

As an official partner of Arthur Ashe Kids’ Day, Xerox will be the title sponsor of the Performance Challenge, which is a featured component of the stadium show where top players attempt to hit targets in order to raise money for their designated charity.

Xerox CMO Christa Carone said, “The USTA does a masterful job of creating on-court excitement for tennis fans around the world. Off the courts is a hub of activity to serve up fast and accurate communication with officials, administrators, press, players and guests. That’s where Xerox comes in. Through our document technology and services, we’ll give the USTA more freedom to focus on their real business – on the court and off.”

USTA chief business and marketing officer Harlan Stone said, “Once again the US Open has attracted a leader in its respective business category. Xerox’s expertise will allow the USTA to simplify the flow of information at the US Open as we bring Xerox’s world-class document technology and support to this global event.”

Arthur Ashe Kids’ Day presented by Hess will kick off the 2011 US Open on 27 August. The 2011 US Open will run 29 August – 11 September.