Cronulla Sharks set to cash in with new stadium sponsor
David Riccio, The Daily Telegraph
an hour ago
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Four months ago, the cash-strapped Cronulla Sharks were on the brink of wearing a 1970s-style jersey without a single sponsor.
They’re now in a position that most considered impossible — with the Sharks on the verge of putting one of the most tumultuous periods in the club’s history behind them by unveiling sponsorship deals worth $6 million over the next four years.
Cronulla’s revenue breakthrough includes major jersey sponsorships and a new stadium naming rights partner for their home ground.
Pointsbet will become Cronulla’s new stadium sponsor.
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Signing a new four-year, multi-million-dollar deal with online betting agency PointsBet for Cronulla’s Shark Park to be called PointsBet Stadium.
PointsBet are an Australia owned sports betting agency that are intent on increasing their profile and appeal after significant market share in the US.
Chief Marketing officer Andrew Fahey said PointsBet had no hesitation in aligning their brand with the Sharks despite the club’s recent upheaval.
“After speaking to their (Cronulla) management team, we’re very confident that the club is heading in the right direction,’’ Fahye said.
“I’ve been a rugby league fan my whole life and they’ve got as loyal a supporter base in the competition.
Cronulla have come from an impossible financial position in recent times. (AAP Image/Craig Golding)
“I love the fact that it’s very much a proud club who play at a suburban footy field that will now be called PointsBet Stadium.’’
PointsBet fill the void left by previous stadium naming rights sponsor, Southern Cross Group, who had failed to renew their sponsorship at the end of last season.
Overcome by a string of off-field issues, including the salary cap scandal, the departure of head coach Shane Flanagan, the resignation of CEO Barry Russelll and a boardroom overhaul, the Sharks lost major sponsors Opal Solar (front of jersey), Bang and Olufsen (back of jersey) and Martec (sleeve) - all of which failed to renew their contracts, leaving a $2 million shortfall in commercial revenue.
But with renewed faith in their brand following the injection of a $40 million development deal and strong roster, the Sharks have managed to secure vital corporate support.
PointsBet join the Sharks recent signing of major partner Ace Gutters for the next four years, sleeve sponsor TFH Hire Services last week on a three-year term and shorts sponsor Auto Craze.
Bundled together, the sponsorships are worth $6 million.
Having finished in his role last Monday, Russell said the club’s new sponsorship partnerships were credit to the club’s hard-working staff.
“At the start of the season, we were at the point of running out with a 1970s jersey,’’ Russell said.
“It was going to be quite embarrassing.
“But the team have worked so hard to pull this all together.
“We know that we’ve got a great brand, a great squad and a committed team who have quality sponsors and brands that are now equally as committed.’’