On July 15, Beijing time, the club officially announced that it had renewed its contract with chest advertising sponsor Standard Chartered Bank. Reds boss Jurgen Klopp announced the favorable news himself in a video.
Liverpool have renewed their contract with Standard Chartered for a further four years with a new sponsorship deal until the end of the summer of 2027, according to a number of media reports. The previous £40 million per year sponsorship will see a significant increase and a conservative estimate of over £50 million per year, with the total value of the contract exceeding £200 million.
Standard Chartered replaced Carlsberg as Liverpool's chest advertising sponsor (main sponsor) in the summer of 2010 and when the new contract is fulfilled, the two parties will have been working together for 17 consecutive years.
Liverpool have used delaying tactics in the renewal process of this sponsorship deal, a process the Reds were last involved in in 2018, with neither side quite figuring out what the actual price of the sponsorship market should be due to the big changes in Europe due to the impact of the epidemic since then, as well as the Liverpool team's own extraordinary successes in recent seasons.
As a result, the Reds have initially opened themselves up to competition from other potential partners, and over the past 12 to 18 months have negotiated with a wide range of capital from the media, travel, finance, electronics, and cryptocurrency industries, in what has been described as a "phishing" operation.
But in the end, the Reds brass went with their old buddy Standard Chartered and scored a new contract worth over $200 million in total.
The next challenge will be to try and renew the upgraded contract with sleeve advertising sponsor Expedia, which currently stands at £10m a year, before the end of the 2022-23 season.
