Liverpool announce multi-year deal with new partner amid record-breaking £300m plan
Liverpool have announced a multi-year partnership with UK betting operator Ladbrokes.
The Reds announced the deal on their official website [24 August] for Ladbrokes to become the club's official betting partner in the UK and Ireland.
Ladbrokes, owned by Entain, will support the local football communities as part of the agreement, through their sports investment programme Pitching In, to improve the physical and mental health of those facing higher social challenges.
Ben Latty, chief commercial officer at Liverpool, said about the deal: “Ladbrokes is one of the most established and well recognised high-street betting firms, and we’re delighted to welcome them to the LFC partner family.
“This new partnership also enables Ladbrokes to continue driving forward with its local community work, using football to increase physical and mental wellbeing, particularly in areas of high social deprivation.”
Liverpool add Ladbrokes to growing commercial portfolio
Liverpool owners Fenway Sports Group are determined to surpass club-record commercial revenue for the 2023/24 financial year.
The Reds recorded a record-breaking £272m commercial revenue for the 2022/23 year, a £25m increase from the year prior, and their deal with Strauss in July, was reported to take the club past the £300m mark [Liverpool ECHO].
Japan Airlines, Orion Innovation, and Google Pixel have joined the growing Liverpool portfolio since the end of the season and have further announced deals with Husqvarna and Lucozade since the reports of surpassing £300m in commercial revenue.
FSG has showcased their financial acumen in this latest deal as the Liverpool brand is further strengthened in the commercial market.
The Reds became the most-watched Premier League side last season, an affirmation of the hard work of John Henry and co.
However, despite the financial gains and the growing potential of the football club, they have risked rattling the fan base with the Ladbrokes agreement.
Reds supporters are widely known for their commitment to their beliefs and watching their side partner with a betting company is not a good look for the club.
Unfortunately, betting and football have become synonymous and are unavoidable in the modern game. Hopefully, the Reds and Ladbrokes will deliver on helping those affected with addiction with this latest partnership.
In other Liverpool news, an Ex-Liverpool director explains the transfer plan with the Reds yet to make a signing.
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