Barclays to review Premier League sponsorship deal

Premier League Trophy

The future of Barclays' sponsorship of English football's Premier League has been cast into doubt by reports it will review its £40m-a-year deal.

The bank's current contract is in the first year of a three year tie-up that runs until the end of the 2015-16 football season.

Members of Barclays' management are concerned that rapid inflation in sports sponsorship costs will mean a much higher amount will be demanded next time, the Sunday Telegraph reported.

Barclays has been the sponsor of the Premier League since 2004 – and its credit card division, Barclaycard, had previously sponsored the competition from 2001. The bank paid £120m in 2012 for the present rights, 50% more than for the previous deal, which cost £82m.

In December, Barclays said it was pulling out of sponsoring Boris Johnson's bicycle hire scheme in central London as part of a wider review.

Powered by Guardian.co.ukThis article was written by Simon Goodley, for The Guardian on Sunday 26th January 2014 19.17 Europe/London

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