Standard Chartered Plc renewed its jersey sponsorship with 18-time English soccer champion Liverpool for another three years.
Standard Chartered, which makes most of its money in Asia, extended the contract until May 2019, the firm said Tuesday. The bank’s logo has been on the club’s shirts since 2010, the year the team was sold to Fenway Sports Group, which also owns the Boston Red Sox baseball team.
With its league titles and five European Cups, Liverpool is one of the sport’s most successful teams. However, it hasn’t been English champion since 1990 and sits fifth in the league after 32 games this season. It was eliminated from the group stage of the latest Champions League after winning just one game and lost leading striker Luis Suarez to Barcelona in July.
“Liverpool Football Club is a fantastic club and hugely popular across our global footprint,” Standard Chartered Chief Executive Officer Peter Sands said in the statement. “Over the last five years our partnership has allowed us to deepen our engagement with our customers, clients and staff.”
Standard Chartered has faced its own problems, saying in February that former JPMorgan Chase & Co. banker Bill Winters will replace Sands in June after falling earnings drew the ire of investors.
Financial details weren’t disclosed. Liverpool was seeking to increase revenue from its shirt sponsorship by 50 percent to as much as 30 million pounds ($45 million), Bloomberg News reported Jan. 6. Other companies, including Japanese bank Nomura Holdings Inc., were approached, people with knowledge of the matter said at the time.