Hamburg have lost their stadium sponsor HSH Nordbank, it has been announced today.

The bank has chosen not to take up its option on a three-year extension to its sponsorship deal for the Bundesliga side's home ground and their contract, which is worth a reported four million euros per year, will now expire next June.

The Bundesliga club are therefore left searching for a third new sponsor for their arena, which bore the name AOL-Arena from 2001 until 2007.

The bank denied their decision is down to the recent turbulence at the club, during which director of sport Dietmar Beiersdorfer was sacked, insisting it had no other choice but to pull out of the deal to save money during the global financial crisis.

"We have worked gladly and successfully with HSV in recent years," said HSH Nordbank chairman Dirk Jens Nonnenmacher.

"HSV is a truly well-loved club. However, a restructuring of HSH Nordbank does not allow us to continue our cooperation.

"Due to the financial crisis, the situation is completely different. The Bank has got to save and rebuild."

Hamburg's under-fire chairman Bernd Hoffmann thanked the bank for its support over the last two years since they added their name to the HSV-Arena.

He said: "Since 2007, we have had an extraordinarily good relationship with the HSH Nordbank.

"This has been livened up by many combined projects in the HSH Nordbank Arena and in the city."