Everton Signs Club Record Three-Year, $26M Extension With Shirt Sponsor Chang
EPL side Everton has signed a three-year extension with Thai brewery Chang in a deal potentially worth more than £16M ($26M). That figure would make it the most lucrative in the club's history, and would also extend what is already the longest current shirt sponsorship agreement in the EPL to 13 years. Everton's initial contract with Chang was made ahead of the '04-05 season, an agreement which was renewed in '05, '08 and '10 (Everton). In Liverpool, Greg O'Keeffe reported the sponsorship deal could potentially generate additional payments based on the club "achieving certain specified targets in terms of league progress and silverware." The partnership is also "focused on developing young footballing talent in Thailand, where Everton will continue to invest resources in projects aimed at improving the game in the South East Asian country" (LIVERPOOL ECHO, 3/20). In London, Tony Barrett reported the deal was announced by Everton CEO Robert Elstone in Bangkok Thursday. Elstone: “We do not take our partnership and all that we have achieved lightly. Everton is very proud of our mutual success to date. I’m sure the years ahead will be as exciting off the field as they look set to be on it” (LONDON TIMES, 3/20).