Nabil Bank Limited had been sponsoring Three Star club since 2005. Both the parties reached an understanding to end the contract though it lasts till August 22.[break]
“Nabil Bank feels it has completed its social responsibility toward the sports sector. It will direct its support other sectors where the need is more,” read the press release jointly issued by the bank and the club. “Three Star Club also feels it should get associated with more organizations.”
Nabil Bank General Manager Kapil Sharma said both the institutions accrued benefits through their six-year long alliance. He also rubbished rumors that the bank was dissatisfied with the club. “The alliance has helped both sides build their image,” said Sharma.
Three Star now are free to pick new sponsor for the upcoming season. The bank officials claimed that they have been successful in making sports sector more professional. “Following the lead role of Nabil, a lot of other corporate houses have come forward and supported many sports clubs and there has been substantial development in the field of sports. We feel Nabil has completed its responsibility toward the sports sector,” said Binay Kumar Regmi, AGM of the bank.
Three Star Club President Lalit Krishna Shrestha thanked the bank for their support. He said the bank had inked the contract when the club was facing a financial crunch. “It was a landmark agreement in Nepali football and we have inspired many others to follow suit,” claimed Shrestha.
Three Star Club´s co-sponsor Western Union, in the same program, informed that they would continue the co-sponsorship deal. “We will continue our association with the club as co-sponsor and help them in getting sponsors,” said Atish Krishna Shrestha, country-head of Western Union.
Meanwhile, Nabil Bank DGM Binay Regmi said that they could return to the sponsorship deal in future. “We pulled out of the sponsorship deal to provide Three Star a chance of finding better opportunities,” said DGM Regmi.
In the program, Three Star awarded a letter of appreciation to the Bank. Three Star have won eight titles during the six years but were yet to taste victory in the league.
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