(Reuters) - Saracens, relegated to the Championship last year after breaching salary cap rules, have agreed a four-year sponsorship deal with global financial services group StoneX Group Inc., they said on Sunday.
StoneX, the owner of British spread-betting firm City Index, will become Saracens' main sponsor and the club's home ground will be renamed StoneX Stadium.
City Index, the London-based subsidiary of Gain Capital which was acquired by StoneX in 2020, will feature as lead partner on both Saracens men's and women's kits.
"We are really excited to enter this new, long-term partnership with StoneX, one of the world’s leading financial groups," Saracens CEO Lucy Wray said in a statement https://www.saracens.com/stonex-and-city-index-announce-four-year-sponsorship-deal-with-saracens-rugby.
"We share a commitment to excellence and innovation and we are looking forward to the start of a memorable journey with them."
Germany-based insurance company Allianz ended its association with Saracens following the salary cap scandal, in which the club were relegated from the English Premiership in October.
Saracens had won the European Champions Cup three times in the last five years and the English Premiership five times in the last decade.
They will begin their campaign to return to the top flight when the Championship season gets underway in March.
"This is a major moment for the Saracens family. The partnership heralds a fresh start for the club after a hugely challenging year and having met some of the people at StoneX and City Index, I can safely say that they share our ambition and values," Wray added.
(Reporting by Hardik Vyas in Bengaluru, editing by Ed Osmond)