Philips to quit as PSV shirt sponsor

Electronics giants Philips will quit as shirt sponsor of Dutch football club PSV Eindhoven after the current contract expires at the end of the 2015/2016 season, both parties have announced.

With this decision the longest period of Dutch sport shirt sponsorship comes to an end. Philips has been on the shirt of PSV since 1982 when shirt sponsoring was allowed in Dutch football. The decision was announced on Wednesday, reports Xinhua.

Philips and PSV have been connected to each other since the establishment of the club in 1913 by a team of Philips employees. The abbreviation PSV stands for Philips Sport Vereniging (Philips Sports Club).

The departure as shirt sponsor of PSV is part of the new course of Philips, more focused on businesses, instead of on consumers. In September last year, Philips decided to split into two separate independent companies, one for lighting solutions and one combining healthcare and consumer lifestyle. This separation is still in progress.

The company will remain sub sponsor of PSV and the stadium continues to be named Philips stadium. PSV will now look for a new shirt sponsor.

Last Saturday PSV captured their 22nd Dutch championship title.