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FC Schalke 04 have terminated their contract with sleeve sponsor hülsta with immediate effect. The Royal Blues exercised a special cancellation clause due to the company’s ongoing bankruptcy proceedings. The Stadtlohn-based company had previously communicated to the liquidator that hülsta had no interest in continuing the contractual relationship as long as it was involved in bankruptcy proceedings. As it’s currently not known when these proceedings will come to an end, and the club was unable to rule out further financial losses, S04 have chosen to end the partnership with immediate effect.
“We regret having been forced to take these measures, as hülsta have been a reliable partner of Schalke 04 over the past years. However, because we did not receive any payments this season from this partner, the club had no option but to take this step at this time,” said Christina Rühl-Hamers, S04 board member for finance, personnel and legal matters.
The Royal Blues had already reduced their advertising efforts for hülsta AG & Co. KG in recent weeks, as discussions continued about a potential restructuring of the partnership. These efforts and others will now cease with immediate effect, which also includes hülsta’s logo being featured on the sleeve of our team’s shirts. The only exception will be on shirts that have already been printed and set aside for sale – they will remain for sale until further notice. This decision has also been made in keeping with sustainability measures.
“Our search for a new partner has naturally been underway for several weeks,” explained Rühl-Hamers. “The market is tough right now, but we’re working hard to find a good solution for Schalke 04 given the current circumstances.”
