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10:19 15 December
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IBA stops sponsoring Inter FC

International Bank of Azerbaijan has made a decision to stop sponsoring Inter professional sport club.

Bank says this step was taken for optimizing of business and restructuring processes.

 

Chairman of Management Board Khalid Ahadov said: “In accordance with the new strategic targets, stopping activity in the sport sphere will lead to saving of bank’s expenditures, involvement of existing opportunities and resources in the main directions, and normalization of bank effectively”.

 

Other legal issues will be solved stage-by-stage. So, the Association of Football Federations of Azerbaijan (AFFA) will provide its support for all necessary works for participation in the matches by the end of this season. IBA will remain as the founder of Inter and management of the club will be transferred to a professional team on the basis of contract.

 

The club is open for sponsor. Those intending to sponsor the club may apply to the AFFA.

 

All obligations assumed within the licensing of the club will be fulfilled by IBA.  

 

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