Edinburgh Monarchs have been rocked by the news that long time team sponsors Scotwaste have binned their backing of the speedway side after nine years.
And now Monarchs have less than two months to find a new title sponsor before the new season begins next month.
Monarchs chairman Alex Harkess described it as a “devastating blow” but said the club must move on. He said: “We had been hopeful during the winter that Scotwaste would continue their involvement with us, but when we recently held a meeting with their managing director Brian Ramsay we had to press him for a deadline on a decision and that was the beginning of this month.
“Brian and his colleagues are sympathetic to our cause and freely admitted the company received excellent coverage during our record breaking season in 2014, but he confirmed that Scotwaste will no longer support us in 2015. It’s a devastating blow but we must move on to try and locate a new sponsor.”
Scotwaste owner Stewart Melrose commented: “I have said in the past that nothing would please me more than seeing Monarchs have a huge sponsor with the ability to pay more for the privilege than we ever could. And I do mean it has been a privilege to have been associated with Monarchs as team sponsors especially through such successful times for the team.”
It is believed Scotwaste pumped almost £50,000 into the Monarchs coffers over their nine years of backing and it won’t be easy to find new sponsors at such short notice. But having slumped into the red despite winning the Premier League for a fourth time last year, it is vital they explore all avenues for fresh funding.
Monarchs say they are open to offers from anyone and a package can be put together for as little as £10,000.