The Australian Rugby Union is searching for a new title sponsor for the Super Rugby club competition in the country after insurance company Asteron Life opted to end its partnership.
The 2016 Super Rugby season, which concludes on Saturday, will mark Asteron Life’s last as title sponsor after it chose not to renew a three-year deal that began in 2014.
According to The Australian newspaper, the loss of Asteron Life will result in a A$300,000 (€203,000/$228,000) reduction in funding for Australia’s five Super Rugby franchises.
An ARU spokesman told The Australian: “Asteron Life’s decision not to extend its partnership comes as a result of a shift in business strategy after a successful three-year partnership with rugby.
“ARU is in positive discussions with existing and potential ARU partners about the Australian Super Rugby naming rights for the 2017 season.”