Liverpool have confirmed the extension of a long-standing partnership at the club in a lucrative deal.
It was announced on liverpoolfc.com on Tuesday morning that AXA have renewed their ties with the Reds for another five years, continuing their sponsorship until at least 2029.
The French insurance company first came on board in 2018, becoming the club’s official training partner a year later and then acquiring the naming rights for the training centre in Kirkby in 2020, doing likewise when the LFC Women moved into Melwood.
According to the Liverpool Echo, the extension of the AXA partnership for five more years is projected to be worth more than £20m to the Merseyside club and will entail improved terms from the parties’ existing agreement, which had been due to expire next year.
While Liverpool fans treasure success on the pitch more than anything else, the importance of prosperous commercial sponsorships can’t be dismissed in the money-driven elite football environment of 2024.
The extra revenue earned from the renewed AXA sponsorship will contribute to funding essential expenditure such as transfer business and the wages of playing and non-playing staff, so the news of the long-term contract extension is most welcome.
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With it being claimed that the French insurer ‘will now work more closely with both the men’s and women’s teams on the pitches of their respective training grounds going forward’ (Liverpool Echo), it appears that they take a proactive interest in ensuring that the partnership is mutually beneficial, rather than merely looking for exposure or brand awareness.
Even if it’s not as exciting as hearing that a key player has signed a new deal, it’s still a significant plus for Liverpool to have such a core long-time sponsor renew their lucrative commitment to the club.