Anyone who can afford to put their name on the shirt of one of the biggest clubs in the word probably isn’t an upstanding corporate citizen with a spotless track record of ethical behaviour, but at least it’s not a crypto scam.
That will be the main takeaway for many today as Liverpool announce a five-year extension on their shirt sponsorship deal with Standard Chartered, a bank that over the years has been fined more than a billion dollars for financial misdeeds including money laundering and the breaking of sanctions against countries including Russia.
Financial details of the new deal have not been shared but will reportedly see a rise of at least 25%, from £40M per season to more than £50M based on reports that call the latter figure a conservative estimate.
Standard Chartered became just the fifth shirt sponsor for the club in the summer of 2010, giving Liverpool a continuity in shirt sponsor rare in England’s top flight where most clubs see a change to the branding on the front of their kit every three to five years.
“This is a hugely significant partnership for LFC and I could not be prouder to confirm a four-year extension to our already long and successful partnership with Standard Chartered,” read a statement from club CEO Billy Hogan on the extension.
“We have been on an incredible journey together and Standard Chartered’s support has been a key driver in our most recent successes, both on and off the pitch, with their loyalty and commitment to Liverpool Football Club.”