SUNDERLAND are set to name a new sponsor in time for next season.
Group marketing director Mike Farnan said: “We will be announcing a major African conglomerate with 188,000 employees as a sponsor.”
He denied reports that current shirt sponsor Invest in Africa had cut short its deal after the appointment of Paolo Di Canio as manager.
He also rubbished claims the club had pulled out amid concerns over the business practices of Invest in Africa backer Tullow Oil.
“The reality is, it was a two-year deal with a year’s break clause,” he said. “Invest in Africa will continue supporting us.”
It is understood details of any new deal will not be announced until Sunderland’s league status next season is confirmed.
The Black Cats are one place above the drop zone, due to goal difference over Wigan, as they prepare to face rivals Newcastle United on Sunday.
Invest in Africa confirmed it would not be a club sponsor next season, adding its decision was not related to managerial changes or recent media speculation.