Barclays Agrees Pounds 57m Premier League Tie-Up
British sport's biggest property will get a new name - and almost 20% more cash - next year when the title sponsorship of the FA Premier League switches from Barclaycard to its owner Barclays in a pounds 57m deal.
The tie-up will see Barclays take over as the competition's backer from next season at a cost of pounds 19m a year. Running until the end of the 2006-07 season, it will allow the group to associate the Premier League with its entire business portfolio.
Barclays was the sponsor of the Football League from 1987 until 1993.
The Premier League was formed in 1992 and was not covered by the Barclays deal.
The agreement, which was rubber-stamped at a meeting of the Premiership's 20 clubs, will see Barclays installed as the sponsor of the Premier League's proposed community coaching programme, cementing its grass-roots sponsorship.
Barclaycard chief executive Gary Hoffman and his Premier League counterpart, Richard Scudamore, hailed the sponsorship as an exciting development and an indication of the Barclays group's commitment to football. …