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Liverpool could become the first Premier League club to sign a cryptocurrency firm as their main shirt sponsor in 2023, according to The Athletic [via The Echo].
Financial services company Standard Chartered have been the Reds' main shirt sponsor since 2010. The Anfield outfit currently earns £40 million a year from the agreement, but the deal is set to expire at the end of next season.
According to The Echo, Standard Chartered are interested in extending their association with Liverpool beyond next year. However, the front of the shirt sponsorship is one of the club's most valuable commercial deals and the Reds are prepared to engage with other potential patterners before making a final decision.
The Merseyside-based club are determined to keep up with the likes of Manchester City and Manchester United in terms of the value they get out of sponsorships, as per the report. They are also keen to use their recent success to bring in more revenue.
Liverpool are thus in talks with cryptocurrency firms over the prospect of becoming the club's main shirt sponsor from 2023, according to The Athletic [via The Echo]. The Premier League giants are said to be looking for a deal worth up to £70 million a year.
Cryptocurrency has gained a lot of popularity over the last two years, with sports like Formula One and NBA signing major sponsorship deals with such firms. However, it remains a controversial subject due to its volatile nature.
Liverpool thus remain in contact with a host of international firms ahead of official negotiations, as per The Echo. These companies come from an array of industries, including financial services, travel and tourism, consumer electronics, media, and more.
The Reds released their first NFT (non-fungible token) collection last month, but are not interested in having a fan token firm as their main shirt sponsor. According to The Echo, they have already rejected sponsorship offers from such organizations this year.
Standard Chartered could continue as Liverpool's sponsors
While the Reds are in contact with various firms, Standard Chartered could remain their main shirt sponsor beyond next year, as per The Echo. They reportedly have the right to renew their deal and talks are live and ongoing between the two parties.
The Anfield outfit are reviewing all their options before making a final decision regarding their main shirt sponsor. According to the report, they are expected to make an announcement regarding the matter in the summer.
Manchester City earn around £67 million a year from their partnership with Etihad Airways. Meanwhile, Manchester United's deal with TeamViewer sees them earn £47 million every season.
