...but they will survive, insist organisers

Organisers of the biggest comedy prize at the Edinburgh Fringe have vowed that this year’s accolades will still be awarded – despite losing their sponsor.

Intelligent Finance have decided not to renew its backing of the prize – which were known as the Perrier awards for 25 years – following the credit crunch.

The Edinburgh-based company, part of the troubled HBOS banking giant, signed a three-year sponsorship deal worth an estimated £150,000 a year in 2006 and renamed the prize the if.comedy award.

However, the new name has struggled to match the impact that Perrier gathered over its quarter-century association with the prize.

Organiser Nica Burns said ‘difficult times’ in the world economy was behind Intelligent Finance’s decision – but insisted the accolades would still go ahead this August.

She said: ‘We’re in advanced negotiations over a new partner and we will be making a full announcement in May.’

The awards will have a new name ‘which should please lots of people’, according to one insider.

Published: 20 Mar 2009