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Premier League sponsors Barclays Bank will not renew their £40m-a-year deal in the wake of the sexist emails scandal, the BBC reported last night.

The bank - which had already been considering withdrawing once the contract ends in 2016 - is said to have decided it will definitely not renew the arrangement.

Barclays has already registered its ‘deep disappointment’ over the emails PL chief executive Richard Scudamore received, in which women were referred to as ‘g**h’ and ‘big t***ed broads’.

Sources close to the bank told BBC2’s Newsnight last night there is ‘absolutely no chance’ Barclays will renew its sponsorship, although this has been officially denied by the bank.

The bank is reported to have made its feeling known privately to the League at the highest level last week and made it clear it did not want to see the situation in any way damage its reputation.

It was suggested the bank’s boss Andrew Jenkins believes football does not match up with his bid to ‘clean up’ Barclays’ tarnished image in the wake of a 10% rise in bonuses this year despite a fall in profits.

(Image: Daily Mirror / Andy Stenning)

On Monday it emerged that Scudamore would face no further action over his sexist emails, despite PM David Cameron saying he would have sacked a Cabinet Member for such remarks.

A meeting of Premier League clubs ruled Scudamore’s emails ‘did include some inappropriate remarks’.

But acting chairman Peter McCormick said that after an investigation his ‘genuine and sincere apology’ was accepted.

Scudamore’s former PA Rani Abraham, who revealed the emails to our sister paper the Sunday Mirror, slammed the investigation as a ‘whitewash’.

Barclays had already considered ending its sponsorship of the Premier League after senior bank figures said it had ‘zero value’ in the UK.

Top brass at the bank fear that the rising cost of sports rights will mean the PL will demand a much higher figure than the previous deal.

The battle for TV rights between BSkyB and BT has driven up costs and the bank is now concerned there will be a knock-on effect.

Barclays has sponsored the PL since 2001 and agreed to pay £120m in 2012 for the present rights - 50% higher than the previous deal which cost £82m.

The news comes two weeks after Barclays announced a cull of 19,000 jobs across the firm by the end of 2016 as part of a bid to cut costs.

Barclays revealed profits in its investment bank fell 49% to £668m in the first three months of the year.

The sharp fall dragged down the rest of the group as profits slipped to 5% overall to just under £1.7bn.

But the bank’s high street division saw profits soar by 20% to £360m in the first three months of the year.

Nobody at the bank was available for comment last night.