England's soccer team is losing one its five sponsors after next year's World Cup. Nationwide, a British financial institution, said Tuesday it will end its six-year sponsorship deal with the English Football Association after the World cup in Germany.
The FA has been receiving a reported 7.5 million pounds per year from the company's sponsorship. "We believe that this partnership has run its course," Nationwide spokesman Chris Hull said.
"As a mutual organization, Nationwide needs to ensure its activities are always in the best interests of its members and all opportunities must represent value for money."
The FA said in a statement that its ongoing discussions with the other four sponsors - Umbro, McDonald's, Carlsberg and Pepsi - were "positive."
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