Liverpool Seeking Most Lucrative Kit Deal In Club History
Liverpool is in talks with New Balance and other sportswear brands as the club "looks to strike the most lucrative kit deal in its history," according to Cameron Clarke of THE DRUM. Club CCO Billy Hogan confirmed discussions were underway with New Balance, whose £45M ($57.9M)-a-season kit contract is due to end next year, and "others eager to replace the Boston-based manufacturer." Hogan: "We are in conversation with New Balance and we are in conversation with others as well. [The kit deal] is an incredibly important partnership -- not just for the financial support it delivers for the club but also from the distribution standpoint." But while Hogan acknowledged a "first league title in 29 years" would be "helpful" to the club’s commercial cause, he said that his remit was to "ensure there was enough success off-the-pitch so as not to become reliant on what happens on it." A roster of 30 brand partners support the club. Hogan said that the revenue from such disparate deals "is used to directly finance football operations." He explained, "A partner invests with the club. And that investment is directly impacting what happens on the pitch. That revenue is then transferred into the opportunity to run the club and to invest in players." Although some of the club's commercial partners "can raise eyebrows -- such as 'blockchain-based trading app' TigerWit" -- Hogan said that the team was "capable of striking successful partnerships with brands even if they have no apparent connection to football." Sponsors "are sold on the notion that by backing the club, the club's supporters will back them." Hogan claimed the club's own data "bears this out," but "the figures to verify this" were not provided. He added, "When you consider different categories it might not seem like there's an exact fit with football or with sports but actually when you start to think about what every organization is trying to do, it is to try and influence people's behavior and ultimately we have an incredibly passionate and global fanbase" (THE DRUM, 2/13).