Allardyce severs ties with My Club Betting

It has been revealed that England Manager Sam Allardyce is no longer working as an ambassador for My Club Betting. 

The FA had been examining the relationship between Hodgson’s replacement and the betting company but it was news regarding the company’s CEO’s past that was the trigger for this decision.

An investigation by The Sun found that Neil Riches, Chief Executive of My Club Betting, had lost investors £4m in a similar venture with Worldlink a few years back.

In 2012 less than a year after its stock market launch the company went into liquidation yet The Sun has reported Riches still paid himself a £1,076,485 bonus on top of his £223,500 salary.

Allardyce told the paper: “The reason I joined My Club Betting was because I am so passionate about grassroots sport. We want to give our youngsters the best chance to do well in whatever sport they choose and the idea of this company is that 20% of the profits go towards that cause which is very close to my heart.

“But I had no idea about the background to the company which has been revealed by this investigation. In view of the revelations about Worldlink I cannot continue to promote the My Club Betting site and I will be giving up my shares.”