English Premier League side West Ham Utd could be wearing sponsorless football shirts during Sky’s Super Sunday clash with Hull City as shirt sponsor Alpari go bust.
An official statement appeared on Alpari’s website earlier today saying,
“The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.”
West Ham officials have so far declined to comment but the club not only face wearing sponsorless 2014/15 kits made by Adidas but the ‘Alpari Stand’ will also now have to be renamed.
The Times reporter Gary Jacob reports that Alpari still owe West Ham Utd around £4million for the rest of the 18-month deal.
Of course this is not the first time The Hammers have had to wear sponsorless football shirts. Back in 2008 British Holiday Package Firm ‘XL’ went into administration. Originally the club covered over the ‘XL’ before covering it with players squad numbers.