Liverpool announced a record-breaking deal with Turkish Airlines to become the new headline shirt sponsor, replacing Standard Chartered after 17 years.
A deal was struck for a £60m/year agreement for five years, with the Turkish Airlines deal worth £10m more than Standard Chartered’s £50m/year contract with the Reds.
While it will be weird seeing a Liverpool kit without Standard Chartered on it, given that I was 12 when the change from Carlsberg was made, the commercial value of the switch is undeniable.
Everton’s former CEO Keith Wyness has revealed the key dynamic that has yielded a game-changing commercial breakthrough for the club.
Speaking on Football Insider’s Inside Track podcast, he explained that Liverpool have demonstrated over the course of their 17-year relationship with Standard Chartered that they are malleable and fluid in catering to the needs of their headline sponsor.
It’s key in these kinds of commercial relationships to create a dynamic where both parties win and win BIG.
Wyness said: “I always think that the best predictor of the size of a deal is how long the last one was,” Wyness said. “And if it’s a long period, then I think you’ve got a successful deal, and in this case, Standard Chartered coming in at 17 years signals a lot to sponsors that it works
“Obviously Standard Chartered have felt they’ve had a very good return on their investment, and it shows that the club have listened and have been a good partner in a sponsorship.
“Turkish Airlines will find Liverpool, I think, to be a very good partner in terms of their flexibility and agility in terms of trying to fit their needs, and I think they will have a long-term sponsorship.
“I mentioned before when I was at Everton, Chang was a long-term sponsor, and it’s so important that you get to know your sponsor over that period of time and you listen to what they’re trying to do. The staff will get to know each other, and that’s so important as well.
“Turkish Airlines have got one of the plum sponsorships in global football. So hopefully it goes beyond the five years, and they renew again.
“That saves you a lot of hassle, and that’s what I think is the biggest saving to keep these repeat renewals going for a long period.”
