The Spanish top-flight league, LaLiga has announced that it will end its title sponsorship deal with Santander after the 2022/23 season.
According to LaLiga, the alliance was terminated due to a mutual decision to seek out new avenues of collaboration. LaLiga said that it will reveal more information about its naming rights once the 2023/24 season gets closer.
As per the Spanish sports business journal 2Playbook, the tournament signed a two-year renewal last year worth around €20 million (US$20.01 million) per year, which will see the agreement through to its final chapter.
The agreement between LaLiga and Santander, which was first secured in 2016, contains the Segunda second-tier with the banking and finance firm’s SmartBank brand, along with the eLaLiga esports tournament, community education programs, fan interaction activations, and, during the peak of the Covid-19 pandemic, the #LaLigaSantanderFest online music festival.
Javier Tebas, President of LaLiga, said, “We thank you for the trust you have placed in LaLiga over the years, and we are convinced that we will continue to collaborate on future projects with Banco Santander in order to grow and promote both brands.”
Antonio Simões, Regional Head of Europe and Chief Executive of Santander Spain, commented, “We are delighted with our partnership with LaLiga over the years and are keen to explore further avenues of collaboration.”