La Liga has officially rebranded itself for the '16-17 season "with the ending of the BBVA title sponsorship deal," according to Paul Nicholson of INSIDE WORLD FOOTBALL. La Liga and La Liga 2 "are now the official names for the top two tiers of the league." The Spanish bank "has been LaLiga’s title sponsor for nine years." These naming rights have now expired and La Liga "has taken the strategic branding decision to keep its name clear of sponsor naming as it aggressively builds it league brand globally and chases down the TV revenues in particular enjoyed by England’s Premier League." La Liga CEO Javier Tebas "aggressively targeted the Premier League revenues in the international marketplace saying that the Spanish league will soon find parity" (INSIDE WORLD FOOTBALL, 7/1). SOCCEREX reported La Liga "had been actively seeking a sponsor to replace BBVA," whose deal was estimated to be worth €23.5M ($31.2M) per year. Reports suggested that "the league was seeking an increased" €25M ($27.8M) per year from a company with a presence in at least 80 countries. A statement from La Liga said, "The strategic decision not to have a title sponsor for the competition is a method for LaLiga to strengthen its commitment to its own brand and further extend the global reach of the best competition in world football." According to Bloomberg, La Liga’s total annual sponsorship revenue has "more than doubled" since '13 to €75M ($83M), and the league’s aim is to reach €100M ($11.5M) by '19 (SOCCEREX, 7/4).
