Liverpool FC Signs Club Record £300 million Kit Deal with New Balance
Liverpool FC appear set to receive quiet the injection of cash. After signing a six year deal with Warrior to provide kits for the club last season, the club announced that it had signed a new deal with Warrior’s parent company New Balance.
The Boston based business will take over designing and producing the Liverpool jerseys from next season forward. New Balance has also announced that it will take over design and production of other Warrior signed clubs.
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This includes fellow Premier League side Stoke City, Portuguese powerhouse Porto and La Liga side Sevilla. However, the new deal with Liverpool is seen as a major strike from New Balance towards Global Leaders Adidas and Nike.
Next year will be the first New Balance has ever tried their craft at soccer kits. Known more for their walking shoes, New Balance looks set to enter the fight between Adidas and Nike. They will be featuring Liverpool kits in all 500 of their retail stores around the globe as well as online on their website.
Both Liverpool’s Chief Commercial Officer Billy Hogan and New Balance’s General Manager Richard Wright were thrilled with the deal and what it brings for both. Hogan called the deal a massive leap forward for the club and New Balance.
"We are thrilled to announce this partnership with one of the world’s leading sportswear brands, which is a record-breaking deal for the club. They have a presence in many countries across the world, which will all feature Liverpool FC kits. We are very excited about joining forces with them.”"
Wright echoed these comments during his announcement. He expressed the joy of the company for signing such a big name club and helping grow the New Balance brand.
"“Liverpool FC is one of the most successful and decorated clubs in world football and we’re delighted to partner with them. The partnership represents an important step for New Balance launching into football and reflects the global growth ambitions of the brand.”"
For Liverpool, the deal seems like a no brainier. The club is not changing companies for their kit design, just changing which department of the New Balance brand makes them. Expect basically the same kit design from New Balance as was from Warrior.
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The benefits are a plenty for Liverpool FC in this deal as well. The club is owned by the Boston based Fenway group. Associating the club with the cities hometown business makes perfect sense for the Boston based businessmen as they try to grow the Liverpool brand in the United States.
To top it off, a £300 million kit deal gives the club more for what it is already using. The only difference will be in the badge on the uniform. That aside, the club will be thrilled with this deal. It gives the team extra funds to help improve not only the side on the pitch, but also the stadium and training grounds of the club.
The partnership seems to be much in Liverpool’s favor with the amount the contract is worth along with the amount of retail location the club will be featured in across the world.
That being said however, New Balance needed this deal if they want to grow into a global soccer powerhouse. If they want to compete with the likes of Nike and Adidas, the club needs the high value teams to use them for their kits.
Currently the deal seems to lean in Liverpool’s favor now, but that could change as we venture further down the road. Should New Balance turn this one deal into many, this could one day be seen as the first stepping stone on their way to becoming a global power.