Caps sponsor frozen out by recession

MISFIRING Edinburgh Capitals were last night hit by a new blow when a major sponsor pulled the plug.

CrestSportsGroup, described as a multi-international sports consultancy, who are also understood to back English football side Ashfield United, who play in the Kent Invicta League, have confirmed that the sponsorship arrangement, announced in May, will no longer take place.

Edinburgh Capitals Management Committee said that Crest SportsGroup are no longer in a position to sponsor the Capitals due to the harsh economic conditions and the impact this has had on their business.

No figure has ever been announced but a club spokesman said: “Capitals will continue to maintain a relationship with Crest SportsGroup in the hope that sponsorship options can be revisited in the future. In the meantime, the Capitals are now reaching out to other investors and potential sponsors to try and make up the shortfall that has been left.”

Scott Neil, the club’s general manager, said: “It is unfortunate that the situation has come to this. The Capitals know full well how difficult economic conditions can have an effect on a business.

“I want to thank Kai Isaksen and Crest SportsGroup for trying to get involved and being honest about their current position. Sadly, we are now in a position of having to look elsewhere to secure funding.”