KPMG South Africa Withdraws Running Club Sponsorship
KPMG South Africa announced today that it will not renew its sponsorship of the KPMG Running Club and the KPMG-Vorentoe Running Academy. The decision was taken following a strategic reshape of the business in June this year which included a review of the business’s corporate and social investment portfolio.
The flagship club was launched in September 2015 as a CSI initiative to support sports development in South Africa. Focusing on running, over the course of three years the club has worked with over 33 elite and 677 registered athletes across the country.
KPMG helped athletes with race expenses such as entry fees, travel and accommodation and for the elite athletes, financial support that enabled them to better dedicate their time to training. Contracts with the athletes and the KPMG Club management team ended on 31 August, however KPMG confirmed it will continue to provide a grace period before it fully withdraws support, this will enable some athletes to participate in upcoming major races in 2018. The elite athletes will still receive their retainers until 31 October 2018.
Gavin de Lange, Chief Operating Officer for KPMG South Africa said: “This has been a challenging period for the firm and we have had to make some hard decisions in an attempt to ensure that KPMG is fit for purpose and operating on a sustainable footing.”
“We are in direct consultations with the professional athletes and contractors who administer the club to ensure a smooth rollback of our support. KPMG South Africa is proud of what the club has achieved over the years and we hope to revisit a programme like this in the future.”