Caterpillar UK's sponsorship agreement with the Leicester Tigers will end after the 2015/16 season.

The company has been main sponsor for the last eight years, during which time the club won the English Premiership Cup three times and the Anglo-Welsh Cup once.

"We are proud to have been the main sponsor of the most successful English club since the introduction of league rugby in 1987. The club's values of team work, strength, and drive to be the best closely reflect our own values.

"We have enjoyed eight years of close and inspiring partnership with Leicester Tigers, during which we hosted customers from many different countries at one of the most exciting rugby venues in the country", said Silvana Godelaine, general manager of Caterpillar's Building Construction Products Division.

"We had to make this difficult decision in the light of our plan to reduce our operational costs globally and we all want to thank Leicester Tigers for their support. We wish the team success in the future, both on and off the field", she added.

Andrea Allen, commercial director of Leicester Tigers, said: "We have enjoyed a long-standing partnership with Caterpillar and it has been evident that we share the same core values and principles. Unfortunately, due to the challenges Caterpillar is facing, we are unable to take the relationship beyond the end of the 2015/16 season.

"Leicester Tigers will continue to maintain close ties with Caterpillar and its stakeholders, and as the economic challenges take a turn for the better, we hope to work together once again".