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This has not been a good year for the Colorado Rapids with the team slogging through a disastrous season on the pitch, but things were looking bright for the club as they signed their first jersey Sponsorship with Ciao Telecom in May. However, the news today is not looking bright on that front as it was reported that the Rapids are suing Ciao over missed sponsorship payments. The news was originally broken by Daniel Boniface of the Denver Post.
Colorado Rapids sue Ciao Telecom over missed sponsorship payments http://t.co/ajVJFiW5lL #rapids96
— Denver Post Rapids (@TerraceBlog) October 30, 2014
What does this mean for the Rapids? A heck of a lot of lost money from Ciao. The deal was reported to be over $8 million for five years. That money could have been invested in players, more coaches, facility upgrades, etc. In addition, the hard work that Tim Hinchey and staff put into this deal is seemingly down the tubes.
Rough stuff in Commerce City for sure.