Millionaire Sanjeev Gupta pulls rug out from under David Koch over Port order new guernseys to ditch GFG logo

Port Adelaide supremo David Koch has been left in the lurch by a key sponsor, with the club making the call to get new guernseys.

Port Adelaide chairman David Koch has been left in the lurch after major sponsor GFG Alliance left the club hanging by failing to pay several sponsorship payments.

Earlier this month Port Adelaide revealed the “current business challenges” of Sanjeev Gupta’s GFG were “impacting the club” with chief executive officer Matthew Richardson saying GFG was being supported through a “complex situation”.

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However, The Adverstiser reports the Power is now ready to sever ties with their major sponsor entirely after they missed several payments and the South Australian government forced the massive Whyalla steelworks – which is owned by GFG Alliance – into administration as it was on the way to “compromising” the Australian steel industry.

It is understood that GFG owes creditors tens of millions of dollars and has also failed to meet sponsorship payments to Port, for which it is one of two “co-major partners”, with the amount they owe unknown.

David Koch has moved to remove GFG from the Port Adelaide guernsey. Image: Getty

David Koch admits Port’s GFG sponsorship appears over. Picture: Ben Clark

GFG was announced as a Port Adelaide joint major partner in 2019, at which time Koch said the club “could not be prouder of this partnership” with “an established global alliance” that had “invested significantly in Australia in recent times”.

However, Koch has become fed up and after a conversation with Gupta on Wednesday morning he believes their partnership is likely over.

As a result, the Power has spoken to jumper manufacturer Macron about removing the troubled group’s logo from its apparel.

But it is not expected to happen before Friday’s pre-season match against Adelaide because of the short turnaround, meaning they will still rep the sponsor for the pre-season match.

“Not if they’re in administration and we’re a creditor, it won’t be on the guernsey,” Koch told The Advertiser about Port Adelaide’s future with GFG.

“We’re trying to work through the logistics of it.”

Port Adelaide have had a partnership with Sanjeev Gupta’s GFG since 2019. Picture: Tom Huntley

Asked if the club would scrap its relationship with Gupta, Koch said: “Let’s see how it all pans out.

“We’ve only just been informed of it over the last couple of hours.

“I would say it would be unlikely (to continue) … but there’s a bit of a legal process to go through and I don’t think we’ll know anytime soon.

“There’s been speculation for a while so it didn’t come as a huge surprise.”

Koch said he hoped to eventually receive the money from GFG, but said irrespective of that cash the club has never been in a better financial position, yet if this was years ago it would have been devastating.

Port Adelaide are set to remove GFG sponsorship from their guernseys. Picture: Tom Huntley

“It certainly puts a dent in things but we’ve future-proofed the club,” he said.

“Since this has been in the headlines a number of other sponsors have approached us to see if they can take the GFG spot.

“It’s not just about us, it’s about Whyalla, it’s about the state.

“There are a lot of small family businesses who are creditors and that’s who you feel for.”

It comes as GFG Alliance’s massive Whyalla steelworks factory was placed into administration because it was on the way to “compromising” the Australian steel industry, according to South Australian Premier Peter Malinauskas.

Sanjeev Gupta’s GFG have reportedly missed several payments. (AAP Image/Kelly Barnes)

The troubled firm is said to owe creditors tens of millions of dollars, from the SA government to local subcontractors.

And Mr Malinauskus said the government had to act.

“The state government was in receipt of advice from our expert steel task force that made clear that the state of the steelworks was now approaching a point where it could be irredeemable,” Mr Malinauskus told 7.30.

“If we allowed it to continue on the current trajectory, where the finances of GFG were compromised so they couldn’t invest in the steelworks, it was actually compromising the ability to make steel in this country.

“It would be clearly unacceptable that as a country we didn’t have the capability to put the two together and make steel for ourselves.”

– with NewsWire