Edinburgh Monarchs arrangement with Century Mortgages has been concluded as of 31st October 1999. This leaves Monarchs in what has become an annual search for a team sponsor.
Century Morgages went into liquidation two months ago still owing some money to Monarchs. It appears that the chances of recovering the outstanding cash is remote. Alex Harkess commented:
"We are not making a big thing out of it due to the fact that there are still some Century Mortgages staff based here and we want to make things as pleasant as possible for them. We knew about the company's situation at the end of October. It's not nice not to recieve what is owed to the club and it may transpire we will get it eventually. Meanwhile we must try and seek new sponsors for next season."
Monarchs were sponsored by Gulf Oil until the end of the 1994 season. They then had three years without a sponsor before Ziebart signed up just prior to the 1998 season. This was eventually terminated after a drawn out saga that left very little time for Monarchs to find a replacement prior to the start of the 1999 season. Century Mortgages stepped into the breach a few weeks into the 1999 season.
"At least we have got all winter to pursue various avenues. We have not been left in the lurch just days before a new season. That was the annoying thing about Ziebart's timing."
At least now Monarchs have around four months to sort out a new sponsor. Harkess believes that Monarchs, after a sucessful season winning the Premier League Cup and taking third place in the Premier League, will be an attractive proposition to any would-be sponsors.
Alex Harkess revealed that discussions are ongoing with potential team sponsors but was guarded in his comment:
"It is pointless to get anyones hopes up until something is arranged. We have been close so many times only to be disappointed."