Struggling bank RBS (Royal Bank of Scotland) extended its sponsorship of rugby union’s Six Nations competitions from 2010 to 2013 in a deal believed to be worth £20 million.
The deal comes only days after the bank forecast an annual loss of £28 billion in a statement that saw nearly 70 per cent wiped off the value of its shares. A £28 billion lost would be the worst loss in UK history, eclipsing the £15 billion lost by Vodafone in 2006.
An RBS spokesperson told BBC Sport: “Talks about a new contract worth around £20million had begun after last year's championship and an agreement has now been reached.
“The RBS Six Nations sponsorship has been selected to meet very specific business objectives within the six competing nations.”
RBS has sponsored the Six Nations since 2003. The four-year partnership will officially be announced at the media launch of this year's competition next Wednesday.
