Saracens lose lucrative sponsorship deal

Allianz will end its sponsorship deal with Premiership club Saracens at the end of the season. The news comes after it was confirmed last month that the English and European champions will be relegated to the second tier next term for breaching salary-cap rules. The financial services company has worked with Sarries since 2012, with the relationship worth reportedly more than ?2-million (R39-million) a year through naming rights to the ground and shirt sponsorship. An Allianz statement read: 'Allianz has taken the difficult decision to end its sponsorship of Saracens Rugby Club and stadium at the end of this season. 'Allianz intends to continue to be involved in the great work that the Saracens Sports Foundation does in their local community and wishes Saracens well in the future.'