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The Ref

Scotiabank aka Canadian traitors

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Our Scotiabank has signed to sponsor the Chilean soccer federation to the tune of $10 million dollars. Very nice for the south americans but why can't they better put the money to spondor our CSA and our national teams. I find this disgusting and consider Scotiabank as traitors to Canada. Fortunately I don't bank there.

Source http://www.latercera.com/noticia/deportes/2014/01/656-559514-9-el-nuevo-negocio-millonario-de-la-anfp.shtml

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Chile is apparently the Latin American country Canada and Canadian businesses want to deal with. lol, Scotia doesn't give a f*** about soccer/football. This is just them trying to reach the masses in Chile.

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Scotiabank has had a presence in the Caribbean and Latin America for many years. I even remember there being a Bank of Nova Scotia branch in Haiti. And with that presence comes corporate shilling -- I mean publicly contributing to the community. Scotiabank was the official bank of the 2007 Cricket World Cup. That doesn't mean that they hate hockey.Bimbo bakeries, a Mexican corporation, are the shirt sponsor of the Philadelphia Union. It's not because they hate Mexican soccer and want it to fail. It's because Bimbo is also the biggest bakery company operating in the United States.

So Scotiabank is experiencing success in South America, and is spending some advertising money there. Good for them.

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BMO is sponsor of the CSA and they must surely have an exclusivity clause stating that no other bank can be sponsor. You can't blame Scotiabank for not sponsoring our team when another bank is already the exclusive sponsor. As long as they are sponsoring a team in a country that they do business in and are not sponsoring a CONCACAF rival I do not have a problem with them sponsoring other national teams.

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When our CSA is regularly blaming the lack of funds to support our men's team and let them attend friendlies around the world to say nothing about having our boys travel first class as well as support more extensively our women's teams it bothers me that Scotiabank is funneling millions out of the country to support someone else soccer. Insofar a exclusivity clauses if they exist, I would expect a clever marketing negotiator for the CSA would find a way to get sponsor money from more than one bank.

Simply put, I find it frustrating that on one hand we desperately need more funding and on the other hand we give good money away to the competition. For me it just doesn't add up. Perhaps if we were to qualify for the World Cup, their would be more support, buy hey, we need more money for that. What a conundrum!

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When our CSA is regularly blaming the lack of funds to support our men's team and let them attend friendlies around the world to say nothing about having our boys travel first class as well as support more extensively our women's teams it bothers me that Scotiabank is funneling millions out of the country to support someone else soccer. Insofar a exclusivity clauses if they exist, I would expect a clever marketing negotiator for the CSA would find a way to get sponsor money from more than one bank.

Simply put, I find it frustrating that on one hand we desperately need more funding and on the other hand we give good money away to the competition. For me it just doesn't add up. Perhaps if we were to qualify for the World Cup, their would be more support, buy hey, we need more money for that. What a conundrum!

They are not funneling money out of Canada to support the Chilean team, they are a Canadian company that is making money operating in Chile. In all likelihood they are funneling money out of Chile to Canada and far more money than they are paying in the sponsorship. Indeed the idea behind the sponsorship is it makes Chileans like Scotiabank and want to do business with it so Scotiabank makes more profits in Chile some of which will likely get funneled to Canada.

As to the CSA sponsorship, exclusivity is an absolute must to a corporate sponsor, why sponsor a team if your competitor will also sponsor the team? The idea behind a sponsorship is to make your bank look good because you are the only bank that sponsors a certain team. If you are one of 2 or more banks sponsoring that team then it loses its marketing value.

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Simply put, I find it frustrating that on one hand we desperately need more funding and on the other hand we give good money away to the competition. For me it just doesn't add up.

It's not adding up because those are two different we's, one of which isn't a "we" at all. When you're talking about Canadian soccer fans, you're not talking about all Canadians, and you're certainly not talking about all private businesses in Canada. Money that's in Canada isn't somehow earmarked for the national soccer program.

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Our Scotiabank has signed to sponsor the Chilean soccer federation to the tune of $10 million dollars. Very nice for the south americans but why can't they better put the money to spondor our CSA and our national teams. I find this disgusting and consider Scotiabank as traitors to Canada. Fortunately I don't bank there.

Source http://www.latercera.com/noticia/deportes/2014/01/656-559514-9-el-nuevo-negocio-millonario-de-la-anfp.shtml

Bombast and B_ LL_HIT !

Saliant points from the aritcle:

1. Sponsorship if for five years at 2 million a year to sponsor the National Championship.

2. In three years the Chilian FA signed agreements worth nearly U.S. $ 130 million.

3. World Cup TV revenues for qualifiers to Russia 2018 amount to 106 million USD.

Now ask yourself how much the CSA has sold the qualifiers for World Cup 2018 in Russia for ?

Comparisons

Chile Population 17,402,630 Canada Population 35,158, 300

Chile GDP 341,914 billion ( 41 ) Canada GDP 1,18 Trillion ( 13th )

So Ref...ask the CSA how much they sell the National Championship for ?

So Ref...ask the CSA how much they sell World Cup Qualifier TV rights for ?

Your complaint should not be about Scotiabank doing business around the world and making profits for shareholders your complaint should be to ask what the CSA is doing with the money it leaves on the tables when its sells its products to the marketplace.

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I don't consider Scotiabank traitors because this is a sponsorship with regards to their operations in Chile.

If anything CIBC is worse:

http://www.canadiansponsorshipforum.com/cibc-partners-with-visa-for-the-2014-fifa-world-cup%E2%84%A2/#.Us4UnbQXGSo

because by sponsoring the FIFA World Cup and its Canadian broadcast (in general) and not like BMO has done (either grassroots soccer, Canadian clubs, and the CSA), they are contributing to the "support other teams mentality" we have been eager to fight as Voyageurs.

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CBC and CIBC are separate organizations...

Unless you're suggesting that because the CBC gets sponsorship to broadcast the world cup from CIBC is somehow better than giving money to actual Canadian soccer clubs and organizations. Is your view of world finance actually that sending money to anything outside Canada is automatically bad, but any Canadian organization is worthy of sponsorship?

Edited by Redcoatsforever

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CBC and CIBC are separate organizations...

Unless you're suggesting that because the CBC gets sponsorship to broadcast the world cup from CIBC is somehow better than giving money to actual Canadian soccer clubs and organizations. Is your view of world finance actually that sending money to anything outside Canada is automatically bad, but any Canadian organization is worthy of sponsorship?

Bingo!

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As follow up, what's it like being a 19th century mercantilist, and can I borrow your time machine?

It is ok for you to disagree but it is not nice to make sarcastic comments or names towards me.

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Wait, they're sponsoring the Chilean league championship? And here i thought from reading the first post they were sponsoring the Chilean NT. Nothing traitorous about advertising in a foreign soccer league, especially when said company has large operations in that country.

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Traitors? Seriously? I think that's a little bit petulant. You're naive to think this has anything to do with 'supporting soccer' anywhere, and everything to do with money. They can do as they please, and are under no obligation to spend their money on Canadian Soccer, especially if it brings no return for them, and especially when BMO is already a leading partner. This is a fairly immature reaction frankly.

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"Bank of Nova Scotia (TSX:BNS), the last of the big Canadian banks to report its quarterly and annual results, capped off the sector Friday (Dec 13, 2013) with a record annual profit of nearly $6.7 billion."

"It's just business"

Whatever.

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