Should banks be allowed to sponser events??

squirrelchops

Just something OH and I were talking about last night.

Apparently ING are going to stop sponsering Renault Formula 1 at end of 2009 season. RBS sponser Williams and the Six Nations Rugby to name just two sponsers.

What do you think? Is it right that money is being poured into sponserships deals at present?

Rochdale_Pioneers

squirrelchops wrote: »

Just something OH and I were talking about last night.

Apparently ING are going to stop sponsering Renault Formula 1 at end of 2009 season. RBS sponser Williams and the Six Nations Rugby to name just two sponsers.

What do you think? Is it right that money is being poured into sponserships deals at present?

The money will already have been spent when the contract was signed.

squirrelchops

Agree with you there.

ShimSham

RBS also sponsor Andy Murray, should they be made to stop this?

chucky

it's also tax deductible as it's an expense

mewbie_2

Probably better than Mr. Stanford sponsoring anything.

itsnever2lateisit?

IIRC 'Fred the Shred' signed over £200m in sponsorship deals before he was ousted from RBS, al now tax payers money of course:rolleyes: What is it with Knights of the Realm?

edit see here http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5734138.ece

Cleaver

Someone said on here recently (sorry, forget who - was it you mewbs?) that you either nationalise or you don't. We didn't, on the expectations that banks operate in a 'normal' way, which means bonuses, sponsorship, advertising etc.

It is an interesting issue though OP. And there's just something inherently odd about an organisation losing billions upon billions then still seeing adverts and sponsorships everywhere.

mewbie_2

Cleaver wrote: »

Someone said on here recently (sorry, forget who - was it you mewbs?) that you either nationalise or you don't.

Actually it was me. I feel like a small version of Generali, in amongst my endless drivel was something worth repeating. Anyone want to sponsor me?

And Cleaver you are right it does seem odd that we bail them out and they carry on as if nothing had happened - bonuses, sponsorship, etc. But then if we help them, and then shut down their business model - it would seem a bit pointless.

SGE1

I expect sponsorship is part of a marketing and PR masterplan for the banks - those who people might judge shouldn't be allowed to spend cash on sponsorship, are probably those who need to boost their image the most...

fatpig_2

Banks should be allowed to sponsor something appropriate like bog roll seeing they played no small part in causing the economy to go down the toilet