Yonex pays PBSI sponsorship money

Yonex pays PBSI sponsorship money

JAKARTA (JP): Japanese sports equipment maker Yonex paid on
Monday the third installment amounting to US$250,000 of its
yearly sponsorship deal with the Badminton Association of
Indonesia (PBSI).

PBSI vice chairman Agus Wirahadikusumah said the Japanese
company had requested to pay half of the money in rupiah at a
fixed exchange rate of Rp 4,000 per U.S. dollar.

"We will maintain the fixed exchange rate for the next three
months. We will also monitor Yonex's business in Asia, but I
don't think we are going to change our agreement very soon," he
said.

The check was handed over by representatives of Yonex's Asia
distributor, Sunrise & Co. (Pte.) Ltd.

Before economic turbulence swept Asia last year, Yonex paid
the full amount in dollars. The sponsorship dates back to 1996.

PBSI represents its badminton players in a collective contract
because of their official status as amateurs. With the deal
covering between 50 and 80 players, the badminton body allocates
a share to each shuttler.

Yonex has also signed a minor contract worth US$25,000 with
Indonesia's badminton coaches.

Agus said the contract money would be used to pay the athletes
for the May-July term. "That's the policy we inherited from the
previous board of executives. We will try to make it right on
time."

Yonex's contract allows the association to seek cosponsors as
long as the are not competitors. PBSI had a past contract with PT
General Motors Buana Indonesia, the manufacturer of Opel vehicles
in Indonesia, although it was reportedly terminated before the
end of its full term.

Agus said PBSI was negotiating sponsorship deals with state-
owned telecommunications company PT Telkom and mining firm PT
Freeport Indonesia.

"We are looking for other sponsorship sources just to ease
Yonex's burden if the economic situation in the region is getting
worse."

Agus said the association had also agreed to help police fight
sports equipment piracy here. "We have seen Yonex rackets and
other equipment pirated for years."

On the forthcoming Indonesia Open, Agus regretted the absence
of many foreign players, saying they would miss chances to raise
their world rankings.

Players from only seven countries have confirmed their
participation in the annual event, to be held at the Senayan
Indoor Stadium in Jakarta from Oct. 28 to Nov. 1. (yan)