John Doig, the Bank of Nova Scotia’s chief marketing officer, says that the Canadian bank, better known as Scotiabank, is ready to pull its $20 million sponsorship of the ConcacafChampions League if Concacaf does not pass a series of reforms at its meeting Thursday.
Doig told Bloomberg it is ready to use the “reputation clause” in the deal Concacaf andScotiabank signed in 2014 walk away from the agreement.
“The time is nowfor Concacaf to make those changes,” he said. “I can’t believe their membership wouldn’t want to move in that direction.”
Concacaf needs 31 of 41 votes topass the reforms proposed by Chicago law firm Sidley Austin, which along turnaround firm Alvarez & Marsal is handling Concacaf’s affairs.