The NOC*NSF has played down funding concerns after four companies ended their sponsorship agreements ©NOC*NSF

The Dutch Olympic Committee*Dutch Sports Federation (NOC*NSF) has played down funding concerns after four companies ended their sponsorship agreements with the organisation.

Insurance firm Zilveren Kruis told Dutch broadcaster NOS that their deal with the NOC*NSF would conclude at the end of this month.

Employment agency Randstad, a sponsor for 20 years, and accountants group EY recently confirmed they would not be extending their current contracts with the NOC*NSF.

Volkswagen, a partner since 2001, have also departed the sponsorship list due to rival car company Toyota becoming a member of The Olympic Partner (TOP) scheme from 2017.

A spokesperson for the NOC*NSF insisted that they were not worried, despite the amount of income the deals with the four companies provided.

It has been reported that each entity gave a cash injection of €5 million (£4.2 million/$5.2 million) over a four-year period.

The NOC*NSF claimed they were "in the process of redeveloping our sponsorship structure" with an agreement with Rabobank thought to be in the pipeline.

They admitted, however, that the decisions of Randstad and EY were "disappointing".

The NOC*NSF are confident they will plug the financial gap to enable its athletes to compete at the top level ©Getty Images
The NOC*NSF are confident they will plug the financial gap to enable its athletes to compete at the top level ©Getty Images

"Two of our partners in sport (Randstad and EY) have recently announced that they will not be extending their partnership," the spokesperson told insidethegames.

"That is disappointing but understandable as our new model does require significant investments. 

"We genuinely thank them for their long-term and important contributions to Dutch sports. 

"The renovation of our sponsorship model might take some time, but we’re confident it is a necessary step to secure and grow its long-term value. 

"In the meantime we’re continuing our constructive talks with current (and new) partners about extending and upgrading their involvement with TeamNL."

The NOC*NSF are hoping to announce contract extensions with an unnamed number of companies, as well as new companies who have signed sponsorship deals, early next year.

"We’re currently in the process of redeveloping our sponsorship structure, developing a joined model together with approximately 30 national sport federations," the spokesperson added. 

"One of its important assets will be TeamNL. 

"With TeamNL we’ll create a more recognisable and consistent platform for Dutch athletes and fans. 

"An orange coloured community for Dutch topflight sports, active in a wide variety of sports, all over the world, 365 days a year."