FC Schalke 04 managing board and supervisory board have come to the agreement to end the club's partnership with Russia's Gazprom prematurely, the Bundesliga 2 club announced on Monday.
The club are currently in discussions with representatives of the current sponsor and further information will be released at a later date.
"This decision does not affect the club's financial capabilities. The club's leadership are confident to be able to announce a new partner in the near future," Schalke in a statement said.
It was revealed last week, as political tension in Eastern Europe reached boiling point, that the Gelsenkirchen-based side would be removing Gazprom logos from their shirts.
Matters have now been taken a step further, with all links to the multinational energy corporation now being cut amid the Russia-Ukraine crisis.
After removing title sponsors from their jerseys, a side relegated out of the Bundesliga last season have taken to donning 'Schalke 04' across their chests - with new designs sported in a 1-1 draw with Karlsruher on Saturday.
( With inputs from ANI )
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