Llanera Bankrupt, Addicks Ok Though
Addicks shirt sponsors Llanera have been forced to go bust, having run up debts of around 750 million euros.
The Addicks signed a lucrative four and a half year shirt deal with the Spanish property company at the end of 2005, but with them now having filed for bankruptcy this means the deal is dead.
However Addicks chief executive Peter Varney has said that this will not impact on the Addicks this season, as Llanera had already paid this seasons sponsorship money up front, but the club will be looking for a new sponsor for next season, Peter Varney told the Addicks website: 'It appears that Llanera have been unable to reach an agreement with their bankers on a refinancing deal.
'The total debt seems to be around 750million euros, and two banks in particular look likely to suffer significant losses.
'But our agreement was structured in a way that means we will not incur any losses in the current financial year.'
It is obviously a blow to lose such a long term lucrative deal, but at least this season has been paid up so the Addicks can now look towards next season and finding a new sponsor, which should (all being well) be a sponsor looking to sponsor a Premier League club again, which should also be lucrative! We just have to hope that we can break our run of two successive shirt sponsorship deals that went belly up.
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