April 16 – FC Twente and its main sponsor XXImo have reached an agreement to terminate their contract. The Dutch club is going through troubled times after losing the Dutch Cup final against PEC Zwolle.
XXImo, who provide business travelers with a single mobility card, has been FC Twente’s shirt sponsor for two seasons. The ‘s-Hertogenbosch based company annually paid about €2.5 million to have its name on Twente’s red shirts, making XXImo the best-paying sponsor in the club’s history.
“We regret the unrest that arose last week when the decision to stop the sponsorship was officially made public,” XXImo CEO Patrick Bunnik said. “We sincerely hope that FC Twente is capable of reversing the difficult situation the club is in now.”
“FC Twente is pleased that this situation is resolved,” FC Twente chairman Aldo van der Laan said. “And we are pleased with this mutually successful termination.”
The financial details of the settlement were not disclosed, but van der Laan, who expressed his disappointment about XXImo unilateral decision to end the sponsorship deal, expects that FC Twente will bring in a new sponsor before July.
It would be a much-needed boost for the club. Earlier this week FC Twente lost the Dutch Cup final against Pec Zwolle after penalties and fired 18 members of staff due to financial constraints. Twente’s women team is also seeking financial aid after accruing a debt of at least €50,000 this season.
The club sits in 11th place in the Eredivisie.
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