English Championships sides Nottingham Forest and Queens Park Rangers (QPR), have ended their front-of-shirt sponsorship with Football Index after its gambling license was suspended.
QPR announced that they would not be continuing with the virtual stock market for the rest of the 2020/21 season having immediately terminated the deal.
The Athletic revealed Nottingham Forest's intentions to step away from sporting the Football Index logo on its shirts.
Football Index, the app that enables customers to buy virtual shares in real-life footballers, suffered a critical market crash last week with dividends reducing by up to 80 per cent, leaving app users money trapped the platform after player prices plummeted.
Its operator, BetIndex suspended the platform and is set to enter into administration after the Gambing Commission confirmed that it would be suspending its operating license.
In a club statement, QPR chief executive Lee Hoos said: "As a football club we entered into a one-year agreement with Football Index in good faith. In light of recent events, the front property of QPR’s home and away strips will no longer sport the Football Index logo.”
Football Index first signed with Nottingham Forest in June 2019, with the Championship side claiming the the deal was the biggest in the club's history.
Author: Jake Wilkin