After 30 years, Philips is to end its shirt sponsoring deal with PSV Eindhoven. The current sponsorship deal ends mid 2016 and will not be renewed. Philips says the move fits in with the changing face of the company. Philips is focusing more on medical equipment than consumer electronics.
Philips says it wants to remain involved with the club but no concrete agreement has yet been reached.The club was founded in 1913 as a sports club for Philips’ employees – Philips Sport Vereniging Eindhoven – and took the Eredivisie league title for the first time since 2008 on Saturday.
The current sponsorship deal is worth between €5m and €7m per year.