RBS ends sponsorship

of Open championship

FROM THE DAILY TELEGRAPH WEBSITE
By JAMES HALL
Royal Bank of Scotland has ended its sponsorship of The Open Championship after nine years of supporting the UK golf event.
The Open, which was won this year by South African Louis Oosthuizen, has been sponsored by RBS for nine years.
The move will be interpreted in some quarters as an attempt by the state-owned bank to distance itself from the sport favoured by Sir Fred Goodwin, RBS's former chief executive.
Sir Fred was a notorious golf enthusiast and signed up Jack Nicklaus, the golfing superstar, as a brand ambassador for RBS.
The move is the latest in a series of changes to RBS's sponsorship activities.
The bank has already announced its withdrawal from Formula 1 sponsorship, which will take effect from the end of this season.

Last year it ended its sponsorship of golfers Luke Donald and Paula Creamer, and ceased being an official partner of the PGA of America, the sport's US organiser.

It is understood that the bank will continue to sponsor the US Open, Six Nations Rugby, and Andy Murray, the tennis player.

Nicklaus and Sir Jackie Stewart, the motor-racing legend, will remain brand ambassadors for RBS. However, the bank said today that it will review all of its sponsorship activities as and when contracts expire.
It is understood that sponsoring The Open cost just over £1m a year.

An RBS spokesman said: "For over a century we have enjoyed a close and mutually beneficial relationship with The RandA and in the last nine years as an official patron to The Open Championship. It has been a privilege for RBS to play a small part in helping golf's development into the global sport it is today and the strong contribution it makes to our economy."

"It is now time for us to step aside from our involvement as a patron of The Open Championship and we wish The RandA well in the continued development of one of the world's major sporting events."

RBS said that it will review its remaining sponsorship contracts as they expire to ensure they remain "effective" for its commercial and shareholder interests. However, the bank hinted that it would not withdraw from sporting sponsorship completely.

"It remains our view that well chosen, strategic sponsorships can be a very cost-effective way to market our brand, engage our customers and also support sporting, cultural and other events and activities that enhance the communities in which we operate," the bank said.

Peter Dawson, chief executive of The RandA, said that there is "strong interest" in its "patrons' programme" to sponsor The Open, which was won this year by South African Louis Oosthuizen.