Liga BBVA: RCD Espanyol reconsider partnership with Power8, with the IT company accused of fraud

RCD Espanyol (Liga BBVA) are reconsidering their agreement with Power8, the IT solutions provider, which has been accused of fraud on 13/10/2015. The club has taken legal action against the company, since it did not honour the payment of its contracts for the team's shirt sponsorship and the naming rights of the Power8 Stadium (40,500 seats). The partnership, which began in June 2014, is valued at €5.5m per season. The club is still awaiting a payment of nearly €4m for the 2015-16 season, said Joan Collet, president of RCD Espanyol.

The company, registered in Costa Rica with offices in Spain, was accused by the Taiwanese police of using its sponsorship deals to attract Asian investors through the sale of shares, before making off with their investments. Power8 managed to steal more than $300m (€264m) according to Houchih Kuo, the lawyer representing several of the injured parties in Taiwan.

"The management of Power8 has decided to temporary suspend our business operations due to disputes with our affiliate partners & sponsors. Our executive team is in the process of evaluating our…