- Premier League inks £40 million deal with Guinness
- Clubs notified of £10 million annual support starting next season
- Agreement signifies shift from AB InBev partnership
Twenty premier clubs have been informed of a proposed four-year agreement with FTSE-100 beverages behemoth Diageo that would cost more than £41 million.
The Premier League of English football is celebrating a £40 million sponsorship agreement with Guinness, which the Diageo-owned brand secured after Heineken withdrew its competition.
Beginning with the upcoming season, the Premier League has notified its twenty clubs—including Everton, Manchester City, and Sheffield United—that it will support a £10 million-per-year agreement.
Unofficially signed, the agreement signifies a substantial financial boost to the Premier League’s current partnership with AB InBev, the owner of Budweiser.
Guinness has traditionally had a stronger association with rugby union promotion, particularly through its sponsorship of the Premier League and Six Nations competitions, as opposed to football.
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An executive of a Premier League club reported being informed that the Guinness contract was worth more than £41 million over its four-year duration.
Since five years ago, Budweiser has maintained an affiliation with the Premier League, in addition to serving as the primary sponsor of the FA Cup.
The Premier League has been subjected to an unprecedented level of financial scrutiny since failing to reach a redistribution agreement with the English Football League. The proposed agreement arrives at this time.
The football governance bill underwent its second reading this week, signifying an additional progression towards the establishment of an autonomous regulatory body for the sport.
In the past fortnight, Richard Masters, the chief executive officer of the Premier League, has cautioned that increased regulation could potentially harm the English football pyramid.
