Liverpool will look to secure a major sponsorship deal in the opening months of 2023 as they target a boost on their existing £10m deal.
The Reds are on the hunt for a new sleeve sponsorship deal, with the current deal with Expedia to expire at the end of the current season, the travel company having been sleeve partners of the club since 2020 when they replaced Western Union in a £10m per year deal.
The move from Western Union saw Liverpool achieve a £2m per year annual increase in the value of the deal when they aligned themselves with Expedia, but it is expected that a more significant rise will be seen this time around with the value of Premier League sponsorships having increased and ridden out the storm of the pandemic.
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Expedia could yet extend their partnership with the Reds, while a clutch of blue chip companies are also set to be in the mix when it comes to who gets one of the most prominent and valuable sponsorship spaces in European football.
Liverpool scored success during the summer when they extended their main front of shirt sponsorship deal with Standard Chartered for a further four years, a deal that will take the partnership up to 17 years. That deal was struck at what was understood to be a value in excess of £50m per year, something that placed the Reds near the top of the European list when it comes to front of shirt sponsorship.
The Reds commercial team, led by commercial director Ben Latty, have been working on the deal in recent months and developments could arrive by the end of the first quarter of the year, although the club do have some time yet to negotiate.
Liverpool will have been looking at the buoyancy of the sponsorship market in recent months for similar deals and have been emboldened to seek a considerably higher value with their next deal, with both Chelsea (WhaleFin) and Manchester United (DTX) having secured £20m per year deals for their sleeve sponsorships.
There should, however, be an element of caution with the Chelsea deal, who inked a deal with cryptocurrency platform WhaleFin earlier this year. According to reports by Bloomberg earlier this month, WhaleFin, part of the wider Amber Group, are to end their £20m per year agreement with Chelsea just seven months into the deal, as part of a major cost-cutting plan that also includes the shedding of 40 per cent of the workforce. The issues of the Amber Group can be traced back to the collapse of FTX while the length of the deal between WhaleFin and Chelsea was not specified.
The values achieved by Chelsea and Manchester United, however, given Liverpool some leverage when it comes to nailing down a financial boost of their own from the partnership from next season as the club keep attempting to grow their commercial revenues.
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