Spanish football’s first and second divisions are searching for a new title sponsor after banking group BBVA said it would not extend its deal beyond the 2015-16 season.
BBVA has said it will cease to sponsor the LaLiga and Liga Adelante competitions as of June 30, 2016. BBVA began sponsoring the second-tier Liga Adelante in 2006 before partnering with LaLiga two years later. The first and second divisions have since been officially named Liga BBVA and Liga Adelante, respectively.
BBVA stated the reasons for the decision “are based on the strategic change the bank is undertaking, with the focus shifting towards the digital transformation of the bank on a global level.”
The bank added that LaLiga “is now in a new scenario which will allow the brand to develop internationally, with a strong commitment to global expansion.”
Spanish news agency EFE added that LaLiga and BBVA “stressed their desire to continue working together in a dedicated manner for the rest of the current season.”
BBVA last extended its deal with LaLiga in June 2013, paying €23.5m ($26.6m) per year for three seasons, from 2013-14 to 2015-16. The agreement included an option to prolong the arrangement by a further two seasons, until the end of the 2017-18 campaign.