Chief Commercial Officer Richard Kenyon has provided an update to fans on the search
When it comes to finding a stadium naming rights partner for their new Bramley-Moore Dock home, Everton is “making good progress.”
The 52,888-seat stadium on the banks of the River Mersey will host the Toffees when the 2025–2026 season gets underway. Currently, the commercial team is concentrating its efforts on securing as many important partners as it can, including a partner for the stadium’s naming rights.
Everton and former club partner USM had a £30 million arrangement in place before to the sanctions imposed on Russian companies and persons operating in the UK as a result of the armed invasion of Ukraine in early 2022. The deal gave USM first dibs on the naming rights to the new stadium.
But because of their connections to Russia, USM, Yota, and MegaFon were removed as Everton sponsors, forcing the team to start anew.
The first stadium naming rights partner the Toffees have ever had, Everton enlisted the assistance of US company Elevate Sports Ventures in October 2022. Elevate has experience working with US sports teams like the Pittsburgh Steelers (NFL) and San Jose Earthquakes (MLS) to secure profitable and long-lasting stadium partnerships.
Richard Kenyon, the chief commercial officer of Everton, updated supporters on the team’s business ventures and discussed the stadium naming rights hunt on the club’s official website on Wednesday.
“As we search for a suitable partner to capitalise on this exceptional opportunity, we are continuing to make good progress with stadium naming rights,” stated Kenyon.
The goal of this comprehensive and worldwide procedure has been to identify the ideal long-term naming partner for our new house.
“I would like to take this opportunity to express my gratitude to our club partnership team and our commercial partners Elevate for their efforts in securing partners for our current partnership portfolio, which continues to perform favourably when compared to our peers, as well as for their work in securing stadium naming rights and founding partners to date.
“Importantly, within this portfolio are companies that share many of our values. Among them Christopher Ward, our official global timing partner has enhanced its partnership with us and now provides valuable additional support to Everton Women. The globally renowned British watch brand’s logo is now visible on the back of Everton Women’s shirts and they are developing money-can’t-buy prizes for our Women’s team’s growing fanbase.
“We also added FIGS to our portfolio earlier in the season. FIGS is a progressive, community-oriented US-based healthcare apparel and lifestyle brand that you may have noticed on the matchday uniforms of our medical team. FIGS has demonstrated their dedication to Everton and Everton in the Community, and we are appreciative of the gift they gave to the charity in advance of Monday night’s birthday matchup with Crystal Palace (February 19).
“Lastly, I want to express my gratitude to all of our partners for their steadfast support of the Club—especially Stake, who continues to be our primary partner—and I look forward to collaborating with them during the move to our new location.”
Stadium naming rights can be very profitable, and since the team isn’t restricted by custom when it comes to leaving Goodison Park and relocating to a specially constructed new stadium, the boost would be ideal for the team.
In the United States, stadium naming rights agreements typically span ten to twenty years, providing sports clubs with the opportunity to secure guaranteed revenue for an extended duration.
The financial company paid roughly £500 million to have the Los Angeles SoFi Stadium renamed. The Staples Centre in Los Angeles was renamed the Crypto.com Arena in 2021 as part of a £565 million transaction.
Even while Everton may not be able to draw in crowds like that, they will have access to a new source of income that was previously unattainable and a cutting-edge stadium that will rank among the best in all of English football. A multi-use stadium is a desirable offering to business partners seeking international exposure.
Get latest sport updates on https://sportupdates.co.uk/