Jokes fall flat as comedy sponsor pulls out

Published on Thursday 19 March 2009 21:02

ORGANISERS of the biggest comedy prize at the Edinburgh Festival Fringe are seeking a new sponsor after a banking giant withdrew its backing, The Scotsman can reveal.

Intelligent Finance was unveiled as the headline sponsor of the UK's oldest and most prestigious comedy award in 2006, ending a 25-year association with Perrier.

But the Edinburgh-based firm – the internet and phone banking arm of HBOS created nine years ago – has decided not to renew its deal. The decision, understood to have been broken to organisers several months ago, is the first major sponsorship blow for Edinburgh's festivals in the wake of the economic downturn.

Nica Burns, founder of the awards, which have been staged every year since 1981, last night insisted that the event would "definitely" go ahead this year, although she was unable to confirm whether a replacement sponsor was in place. She said an official announcement would be made in May.

Although Intelligent Finance refused to comment on its withdrawal, Ms Burns said it was obvious the current "tumultuous" economic climate was a major factor. The company, whose backing was thought to be worth about 150,000 a year, stepped into the breach in the summer of 2006 after Perrier decided to end its long involvement with the awards.

The award has long been seen as the biggest honour to claim at Edinburgh's festivals, having provided a major platform for the likes of Frank Skinner, Eddie Izzard, Steve Coogan, Lee Evans, Peter Kay and Rich Hall. Finalists are traditionally offered various showcase events.

Last year's awards were overshadowed by rows over the creation of the new Edinburgh Comedy Festival by four major venues. It emerged last week the venture was being revived, despite claims it divided comics and confused audiences.

Ms Burns said: "When Intelligent Finance's sponsorship of the awards was revealed in 2006, after a 25-year association with Perrier, we were both looking forward to a long relationship together. We entered into a three-year contract, which ends in April of this year.

"At that time, nobody could have predicted where the world's economy would be and the difficult times we all find ourselves in. Intelligent Finance will not be renewing their contract, but the awards will definitely be going ahead. We're in advanced negotiations over a new partner and we will be making a full announcement about the awards in May."

A spokeswoman for Intelligent Finance would only confirm that the company's sponsorship deal was due to end next month.