Chinese telecom giant Huawei exits its sponsorship deal with Australian rugby league's Canberra Raiders after nine years citing a 'negative business environment'
Elliott Whitehead of the Canberra Raiders National Rugby League team raises his arms after his try was disallowed during a match against the Melbourne Storm in Canberra, Australia, July 11, 2020.
Huawei will end its financial backing of the Raiders at the end of the current National Rugby League season. The grand final is on October 25.“The continued negative business environment is having a larger than originally forecasted impact on our planned revenue stream and therefore we will have to terminate our major sponsorship of the Raiders at the end of the 2020 season,” a Huawei statement said on Monday.
Raiders board member Dennis Richardson, a former head of the Defense Department and of the main domestic spy agency, Australian Security Intelligence Organization, had been a vocal supporter of Huawei’s sponsorship deal. Raiders chief executive Don Furner said the team was “very sad” to be losing its major sponsor. Neither Huawei nor the team has ever made public the value of the sponsorship.
Huawei is at the center of a major dispute between Washington and Beijing over technology and security. US officials say Huawei is a security risk, which the company denies, and are lobbying European and other allies to avoid its technology as they upgrade to next-generation networks.
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