Steinhoff pulls out of Varsity Cup

The Varsity Cup is searching for sponsors after Steinhoff withdrew on the eve of the competition’s 11th season.

South Africa’s only national, inter-varsity competition has lost Steinhoff as a secondary naming rights sponsor after the global retailer’s share price crashed in the wake of financial irregularities that led to CEO Markus Jooste stepping down late last year.

Steinhoff have also reportedly dissolved their agreement with SA Rugby to sponsor the Blitzboks.

“We would like to assure spectators that preparations for the 2018 tournament are at an advanced stage and we are working with all our partners to ensure the success of this year’s competition,” said an official Varsity Cup statement.

The 2018 Varsity Cup competition kicks off on Monday, January 29.

- All Out Rugby Staff Writer