Liverpool’s Asia Tour Vital to Standard Chartered Sponsorship
Standard Chartered Plc (STAN), the international bank that sponsors 18-time English soccer champion Liverpool, says the team’s tour of Asia next week is one of the reasons it agreed to pay out a record 81.5 million pounds ($29.6).
The U.K.-based lender, which gets more than three-quarters of its profit from Asia, started a four-year contract with the Reds on July 1 last year. The club flies out in two days to start a tour that will include exhibition matches in
China and Malaysia as well as an open training session in
Singapore.
“It’s a pretty important part of why we signed the deal in the first place,” Gavin Laws, the bank executive who agreed the accord, said in an interview. “We want to help bring Liverpool to our clients and executive clients in
Asia,
Africa and the Middles East. This tour is an important part of the visibility we want to give our customers.”
Standard Chartered is trying to increase its global reach after thriving during the global economic crisis that hurt most of its competitors. It has 1,700 branches and offices worldwide, including 900 in Asia. In January the lender opened a 65,000 square-foot trading floor in Singapore, which it says is the biggest in Asia.
Reds captain
Steven Gerrard will miss the tour. He’ll remain in the U.K. to work on his fitness after undergoing an operation on his groin in April.
“We would have loved to have him there,” said Laws, the bank’s group head of corporate affairs. “It isn’t going to happen. We understand the priority is to get Steven fit for the premier League season and if staying at home is the price we pay that’s fine.”
‘Worst Start’
Liverpool is the bank’s first ever team sponsorship. The first year of the accord was an eventful one. It included the sale of the team to the Boston Red Sox owner Fenway Sports Group following a legal struggle, the club suffering its worst start to a season in more than half a century, the sale of its top player
Fernando Torres and the return of
Kenny Dalglish, the coach that took Liverpool to its last championship in 1990.
“They finished the season really strongly, they started it really poorly and there was plenty of visibility about the club all through the season,” said Laws, who described the team as one of the top four or five in the world. “Who knows how long any club can go without winning something before they start to lose their fanbase? But you know Liverpool is engrained in many people’s lives throughout the world.”
Liverpool, whose main shirt color is red, yesterday said sales of its third jersey were a record for a change strip. The white and blue outfit was launched earlier this year amid controversy as some fans complained its local rival Everton plays in blue, and others said it was imposed on the team by
Standard Chartered because of similarities to the bank’s insignia.
‘Massive Influence’
Laws said his company had no involvement in the design of the shirt produced by Adidas AG. He’s faced criticism before after being reported as saying the bank would like the team to sign some Asian players.
“We seem to be branded as having massive influence on player selection, kit selection, whatever,” he said. “We have a lot of input on areas of commercial work but we have no say whatsoever in what the kit looks like, what the colors of the kit are and we have no say in player selection. At the end of the day we clearly understand that we’re a sponsor and they’re a football club.”
Tickets for the game in
Malaysia were sold in the bank’s branches there. Talks to use the infrastructure as a “hop window” to sell Liverpool merchandise haven’t progressed beyond early discussions.
‘Naming Rights’
Standard Chartered is also interested in becoming a naming rights partner if Liverpool decided to build a new stadium. Planning rights to develop a sight in Stanley Park, close to the club’s current Anfield stadium, were recently extended until September. Fenway Sports Group is getting closer to a final decision.
“There’s a whole lot of things got to happen before that becomes a sensible conversation and the club know that we’re interested in being involved in that conversation,” said Laws.