Brand finance research indicates that brands are overpaying for football sponsorship, while others are getting value for money. From a sponsorship perspective, the football industry is becoming more attractive to the corporate world, with major competitions such as the UEFA Champions League and FIFA World Cup offering a wide audience and high visibility. Increasingly, brands are also targeting the elite bracket of football, which includes the world’s top clubs.
For example, Emirates has sponsored the teams since 2001. The same is true for many other sponsors. The amount of sponsorship is generally unrelated to its likelihood of fan recall. Thus, buying into the sponsorship field does not guarantee instant success. However, it is a worthwhile investment. In this context, brands should always consider their objectives and the team’s needs. In addition, brands should also consider their audience and their ideal customer profiles.
The football world is increasingly connected, and the stadiums are no exception. Wi-Fi, HD screens and beacon technology are available to enhance the fan experience. This means that sponsors can deepen their engagement with the fans, which helps clubs to focus on the sport. Further, it also gives brands great exposure, boosting their brand. This makes football a great place to promote brands. So how does sponsorship work in football? In short, it allows the club to focus on the sport.
The most lucrative team sponsorship is the kit deal, with Manchester City’s contract with Puma worth €72 million. The recent Puma agreement with Manchester City has led to the highest-paid sponsorship deal in soccer. The team’s popularity and profits make the teams attractive for business. This is the main reason why companies look forward to sponsorship. The fans choose their favourite clubs and teams as sponsors to attract these brands.
In the Premier League, Manchester United is one of the most popular clubs, and their heritage has led to profitable partnerships with the company. Chevrolet, an unusual sponsor, United the most expensive club globally, and its origin makes them the most valuable. Shirt sponsorships raise brand awareness but do not convey a company’s position or image.
The football club can approach companies to increase its visibility. This strategy can help the team to gain exposure through social media. Alternatively, companies can come to a football club to increase their visibility. The advantage of this strategy is that the football team gets to promote a particular product or service on its website. And, if a company is looking for a new brand ambassador, the brand will be on the shirt of the new sponsor.