The agreement, which will last for five years, was announced today at a press conference in Melwood, the club’s training ground. According to local news sources, the deal is rumoured to be worth £25 million over five years.
Beginning this Friday, 2017/18 is the first season that Premier League clubs will be allowed to show a second company logo on their clothing, provided it remains on the left sleeve. Chelsea FC and Manchester City have also sold the second shirt space, both, interestingly, to tire companies.
The deal brings more than just funds to the club. According to the FT, the deal will also provide the club with cash management, cross-border payment, and foreign exchange services.
For Western Union, the move is part of its move away from in-person transfers and toward its digital business. Speaking to the FT, Elizabeth Chambers, chief strategy, product, and marketing officer, said “Our strategy is to make the business digital”.
Both club and company have necessarily global followings. “Our customers are digitally-savvy and on-the-go, moving not just money but their human capital - their cultures, values and sporting allegiances,” Chambers added in a statement.
The decision is part of a plan, the FT suggested, to gain a greater foothold with corporate customers. In part, the strategy is a response to the rise of fin tech startups, aimed at consumers, such as Revolut and Monzo, both of which boast attractive money transfer credentials.
Within the deal, however, the marketing push will give the company extensive support across Liverpool’s physical and digital properties.
“In life,” said manager Jurgen Klopp, “it’s important to have the right partners.”
Data sourced from the Financial Times, ClickLiverpool, This is Anfield, The Premier League, Western Union; additional content by WARC staff