According to reports from The ECHO, Liverpool will bank an additional £2 million per year after a deal was agreed with sleeve sponsor and travel firm Expedia last month.
Liverpool had previously ended their agreement with Western Union following the conclusion of the club’s 2019/20 title-winning campaign and have since struck a deal with the American-based online travel company in a multi-year agreement which has existed since October.
The ECHO reports that the deal is understood to run until the end of the 2022/23 campaign with Liverpool managing to secure an uplift on the deal that was in place with Western Union, whose partnership with the Reds began in 2017.
According to Sports Business Sponsorship, the club will receive an average influx of between £9m and £10m per season until their agreement reaches its expiration date in just under three years time.
The co-existing deal will grant Expedia with matchday visibility, opportunities for branded content as well as access to players for promotional purposes.
It is quite the exponential rise in cash in-flow when you consider Liverpool’s initial deal struck with Western Union over three years was deemed to be in the region of £5.5 million.
The had begun the 2020/21 campaign without a sleeve sponsor altogether after failing to find a replacement for Western Union after the club had looked to seek around £11m at the beginning of negotiations. It is reported that one prospective party was forced to pull out of a deal due to the financial ramifications of the ongoing pandemic.
There were other parties interested and Western Union were even in the running for another extension on their previous deal despite Liverpool remaining firm that they wanted to seek a major financial uplift.
The deal was brokered by Fenway Sports Marketing, who are associated with FSG, and marketing agency Octagon, with negotiations led and overseen by Liverpool’s recently appointed commercial director Matt Scammell, as well as head of sales Kate Pratt.
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It looks set to be another financial victory for the club off the field as Liverpool look to utilise their status as champions of England and the world to their own advantage.
The sponsorship was recently in full viewing on the Liverpool sleeve shirt for the first time during the club’s 2-2 draw with Merseyside rivals Everton last month.
It represents another change with off-field sponsors following Liverpool’s decision to recently alter their kit partnership after the club parted way with kit provider New Balance to strike a deal with world-renowned sports giants Nike.
Liverpool’s deal with Expedia is set to bring in an added £2m per season which coupled with other financial strategies the club have meticulously worked towards is only going lead to more money which supporters will want to see used on transfers.
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