Llanera Debts Threaten Sponsorship Deals

Spanish property firm Grupo Llanera has fallen behind in its debt repayments
placing a question mark over its ability to continue its shirt sponsorship deals
with English football club Charlton Athletic and rugby union team London Irish.

The Valencia-based holiday property company is currently negotiating a €150m
loan from its creditors, Lehman, after falling behind on debt payments, but has
yet to secure its financial future.

The scenario is likely to threaten Grupo Llanera’s shirt sponsorship deals
with Charlton Athletic FC, which signed a £6.6m deal with the firm in December
2005, and London Irish, which has a £2m on-shirt contract.

If Grupo Llanera’s sponsorship of the two clubs were to be pulled, it would
mark the second time that Charlton Athletic had encountered problems with a
major sponsor in recent times.

The Championship side’s previous kit sponsor All:sports went into
administration in September 2005, midway through a £3m deal.