Barclays renews Premier League deal

Barclays has renewed its sponsorship of the Premier League as the bank continues to make headlines for its part in the LIBOR interest rate fixing scandal.

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The bank has signed a three-year deal worth £40m a year to remain the title sponsor of the Premier League until 2016. It gives the bank exclusive worldwide marketing rights, tickets and hospitality.

Barclays’ current deal, which expires next year, has seen the bank pay £27.5m a year.

The beleaguered bank this week pulled all its advertising in the wake of the LIBOR interest rate rigging scandal, saying it was not “the right time” to be promoting its retail services.

This season marks the Premier League’s 20th anniversary. Its partners, which also include ESPN and Sky Sports have launched marketing activity to celebrate the occasion, with more campaigns expected from brands such as Lucozade, Yahoo!, EA Sports, Nike and Barclays in the coming weeks.

Next year BT is to broadcast live Premier League games for the first time, after outbidding ESPN for broadcasting rights alongside Sky Sports for the 2013-14 campaign. The Premier League is to receive a £3.2bn windfall on the rights packages, with each club set to receive £14m more per year than the previous deal.