QPR and Forest scrap Football Index sponsorships
Championship clubs cut ties with football stock market after UK licence suspension
Queens Park Rangers (QPR) and Nottingham Forest have cancelled their sponsorship agreements with Football Index after the firm went into administration.
Football Index had its licence suspended by the UK Gambling Commission (UKGC) this morning after running into financial difficulties as a result of mismanagement.
The regulator admitted Football Index may not have acted in accordance with its licence conditions and that it may not be suitable to carry on with licensed activities.
Customers now face an anxious wait to see whether they have lost their investments for good after insolvency practitioners Begbies Traynor were appointed to try and resolve the situation.
A QPR statement said the decision was effective immediately.
QPR CEO Lee Hoos said: “As a football club we entered into a one-year agreement with Football Index in good faith.
“In light of recent events, the front property of QPR’s home and away strips will no longer sport the Football Index logo,” he added.
Nottingham Forest have not released a statement but they too will remove the logo, as reported by the Nottingham Post.
The Reds will play without a front-of-shirt sponsor for the remainder of the season.