At the start of 2021, Newcastle United terminated their £6.5m-a-year deal with Puma. After July 2021, the club signed a contract with British sportswear brand “Castore”. Newcastle United’s kit deal with Castore is said to be worth five million pounds a year.
Permit’s test the monetary information in the back of Newcastle United’s buy of Castore:
|Duration||3 years (2021-2024)|
|Yearly payments||£5 million|
|Total payment over 3 years||£15 million|
|Any performance-related clauses?||£2 million a year will be added to the yearly deal if Crystal Palace stays in the Premier League.|
The Castore company in Liverpool became the sponsor of the product in July 2021. The total value of the contract is £15 million over 3 years. This deal marks the end of German sportswear brand Puma’s time as a supplier.
In addition, the deal will allow Castore to manage the club’s e-commerce business. So that includes improvements to the physical club and the online store, as well as increasing sales.
Newcastle United shirt sponsorship deal:
Newcastle United have signed a sponsorship deal with Chinese gambling company ‘Fun88’. The business is worth £6.5m a year. Furthermore, the contract will be renewed at the end of the 2021-2022 season.
Let’s look at the promises:
|Duration||8 years (2017-18 season to 2024-25)|
|Yearly payments||£6.5 million a year|
|Total payment over 8 years||£52 million|
|Any performance-related clauses?||£1 million a year will be reduced into the yearly deal if Newcastle United gets relegated from the Premier League.|
An eight year sponsorship deal between Newcastle United and Fun88 for £52 million is without a doubt worth doing.
Fun88 became the club’s official sponsor and wanted the rights to display the Fun88 logo on the front of the game and training kit.