Cape Town - The South African Rugby Football Union (SARU) have reacted to reports that BMW will not be renewing their sponsorship of the Springboks when the current contract comes to an end in December.
When contacted by Sport24 for comment, a SARU spokesperson said: “BMW advised of their change of direction some months ago after a successful partnership for both of us. We have been working behind the scenes in the intervening period and are currently talking to two potential successors.”
Read: Boks lose second sponsor in as many days
This follows reports from the weekend where the Sunday Times confirmed that jersey sponsor, Absa, had opted not to renew their contract.
The Absa deal was believed to be worth R100m a year for the Springboks and R600m in total over a four-year period.
Absa earlier also opted not to renew its sponsorship for
the 2016 Currie Cup.
Absa, previously under the guise of Santam Bank and
Bankfin, has backed the Currie Cup, one of the oldest competitions in world
sport, since 1985.
Read: Absa's move to drop Springboks is 'dangerous' - EFF
Earlier this month BMW were confirmed as the new title sponsors for next January's SA Open at Glendower Golf
SARU is reportedly in discussions with another bank, FNB,
about sponsoring the Currie Cup as well as the Springbok Sevens team, who are
also currently sponsored by Absa.