Barclays’ £40million annual sponsorship is one of the highest-profile deals in sport because of the global reach of the Premier League, which is broadcast in 212 territories to 643million homes.
Barclays has sponsored it since 2004, renewing its contract twice. The current three-year-deal finishes at the end of the 2015/2016 Premier League season.
David Wheldon, Barclays’ head of brand, reputation and citizenship, said: ‘It is one of the most valuable title sponsorships in the world and, for commercial reasons, this cycle the Premier League will be going to the open market. We have not decided whether to bid.’
He said that the bank wanted to maintain its good relationship with the Premier League. Given the massive popularity of the Premier League, there is likely to be significant interest from major companies.
Barclays’ £120 million deal is 50 per cent higher than its previous agreement with the Premier League, but there is a feeling from many of the 20 clubs that the sponsorship is worth more.
Sources believe the Premier League’s preference would be to attract a financial services company