The English football Premier League has announced a new £40m sponsorship deal with Diageo-owned brand Guinness, beating out competition from Heineken. The agreement, set to begin next season, will provide a significant financial boost to the league and its 20 clubs, including Everton, Manchester City, and Sheffield United.
According to sources, the deal is worth £10m per year and has not yet been formally signed. It represents a significant increase from the Premier League’s current partnership with Budweiser’s owner, AB InBev. This move marks a shift for Guinness, which has historically been more closely associated with promoting itself through its partnership with rugby union in competitions such as the Premiership and Six Nations.
One executive from a Premier League club revealed that the deal is valued at over £41m over its four-year duration. This news comes as Budweiser’s five-year partnership with the league comes to an end, during which it was also a principal sponsor of the FA Cup.
The proposed agreement comes at a time of heightened scrutiny of the Premier League’s finances, following its failure to reach a redistribution settlement with the English Football League. The recent second reading of the Football Governance Bill is another step towards the creation of an independent watchdog for the sport. However, Premier League chief executive Richard Masters has cautioned that increased regulation could harm the English football pyramid.
Both the Premier League and Diageo declined to comment on the deal. This story is part of a larger business news update, which also covers topics such as the ongoing Post Office scandal, a potential TikTok ban in the US, and Lloyds’ profits plunging following a record year.
