Monday, 14 September 2009

£80million Liverpool FC deal

Today Liverpool have announced, as expected, a new shirt sponsor from the 2010-11 season. Standard Chartered Bank have agreed to pay an estimated £20million a year for a four year contract with the Reds. With the transfer window now shut till January Rafa Benitez obviously cannot spend any of the money. The question is, will he be allowed to spend any of the cash when the new window arrives or will he have to wait till the Summer of 2010? Perhaps more pertinently, will he be allowed any of the money at all or will it go to servicing our astronomical debt?

The deal certainly is a positive step for Liverpool as many aspects of the clubs commercial side have been woefully inadequate. You have to say certain people over the last twenty years at the club have sold LFC short commercially, so well done to those at the club who have managed to pull this off. The problem of Tom Hicks and George Gillett still remains. The debt is still significant and the new stadium is still only on the drawing board, with some recent reports suggesting that it might not be ready until 2018. While 'they' are at the club, the future does not look bright, sponsorship deal or no sponsorship deal.

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