PLCA severe ties with Cash Plus
The Premier League Clubs Association (PLCA) has dropped Cash Plus Limited as sponsors of the Premier League football competition.
Edward Seaga, Chairman of the PLCA, said the embattled investment company owed the league $26 million.
Cash Plus Limited, which is now in receivership, had committed a three-year sponsorship deal worth $150 million last September.
On Wednesday, the court-appointed co-interim receiver manager, Kevin Bandoian, disclosed that Cash Plus has no money.
Mr. Seaga, who negotiated the sponsorship deal with Cash Plus, said the Premiership would no longer be branded the Cash Plus Premier League.
The former Prime Minister of Jamaica said Cash Plus Limited has been served notice.
He further said the PLCA has written to the Sports Development Foundation requesting emergency assistance.