Bullseye wrote:http://www.theguardian.com/money/2014/nov/10/payday-lenders-may-vanish-within-year-price-cap
Thoughts?
I'm not sorry to see companies like this being forced into charging more realistic interest. As for the Bulls, we could be on the lookout for another main sponsor if Provident decide to reduce their outgoings or even "exit the marketplace".
I'd imagine that the contract would be pretty tightly worded so that even if Provident wanted out of the deal they'd have to pay a settlement to the Bulls for breaking the deal.
Also, I've no doubt there's plenty of companies that would be interested in sponsoring the club should the opportunity arise
That being said, this rate capping stuff will not have happened overnight so I've no doubt Provident knew it was on the horizon before signing the deal with the Bulls so will no doubt have factored that in.