After weeks of negotiating, Barclays bank and the English Premier League have agreed to a new three-year deal for Barclays to continue as the global title sponsor of the Premier League until '16. The deal, worth £40M ($61.7M) a season to the Premier League, will run for three seasons from '13-14 to the end of the '15-16 season. The agreement includes the global title sponsorship of the Premier League and exclusive worldwide marketing rights, U.K. and int'l TV program accreditation, extensive advertising rights, match day tickets and hospitality, as well as joint community activity. Barclays and the Premier League will continue the Barclays Asia Trophy tournament and the Barclays Premier League Trophy Tour that will next visit Africa and the U.S. (Premier League). AP's Rob Harris wrote Barclays "agreed to pay almost 50% more" to renew its sponsorship, while the bank "is embroiled in an international rate-fixing scandal." The league "will receive $185M over three years" from the '13-14 season, an increase from the current $135M terms. Britain's third largest bank has held naming rights to the world's richest soccer league since 2001. But the Barclays brand "has been tarnished in recent weeks" after news of manipulation of a key market interest rate (AP, 7/12). In London, Matt Scott wrote the deal "represents more good financial news for the league" after the £3B ($4.6B) in deals struck last month with Sky and BT for the '13-14 season and beyond, up 70% from the previous three-year broadcast arrangements (TELEGRAPH, 7/13).
