MOSCOW. Nov 28 (Interfax-AVN) - The Sibneft oil company, recently acquired by gas giant Gazprom, will not be sponsoring the CSKA football club (abbreviation stands for 'Army Central Sports Club') after the end of this year.
"The contract with CSKA will run until the end of 2005, and will then be severed," a source at Sibneft told Interfax.
"Sibneft's new owner made the decision on the basis that there is no need to promote Sibneft's brand federally or internationally," the source said.
The three-year, $54-million sponsorship deal with CSKA was signed in the spring of 2003. CSKA won the UEFA Cup in the 2004-2005 season, the Russian national cup, and was Russia's league champion in the 2005 domestic season, which ended in November.
The source said Sibneft would continue to sponsor the Avangard hockey club and regional teams, but could review the amount of financing involved.
Meanwhile, Gazprom spokesman Sergei Kupriyanov has confirmed that the termination of the contract with CSKA "is our common stance coordinated with Sibneft."
"The decision is related to Sibneft becoming a subsidiary of Gazprom and we find it inexpedient to continue promoting the brand," he said in a Monday interview with Ekho Moskvy radio.
As for Gazprom's sponsorship contract with the Zenit team in St. Petersburg, Kupriyanov said Gazprom is not planning to sever it.
"The players are wearing the logo of the Gazprom head company - the very brand that we plan to continue promoting in the future," he said.