La Liga is going to reportedly change its name following a sponsorship deal. They will no longer have Santander after their name after seven seasons.
They have decided to drop Santander as their main sponsor. However, it seems the Spanish League has immediately agreed a lucrative sponsorship deal.
LA LIGA AND EA SPORTS SPONSORSHIP LINKS FULL STORY
According to reports, La Liga has agreed a lucrative sponsorship deal with EA sports. However, there is need for some clarity on how much they will make from the deal. Although, the reports say that the deal is close to a figure of €30m per annum. The deal is set to last for another five years. The league were making around €17m per year in naming rights from Spanish Bank Santander before the EA deal.
However, it seems the seven-year-long association with the bank will come to an end. It looks like EA finally have got the naming rights of La Liga. This also increases their reach. However, the deal is also expected to benefit the Spanish League. The Spanish League are finally going to get a global reach after getting in a deal with EA Sports.
HOW IS THE DEAL GOING TO BENEFIT THE SPANISH LEAGUE?
This deal will mark a shift in partnership as well as strategy. The League will not only make more income but will also get a global name in the gaming industry as well. According to the deal, EA Sports will have their name to each of the Spanish leagues which include Primera, Segunda, and Promises divisions as well as the eSports League.
EA Sports are best known for creating the popular football game FIFA. However, both have cut ties with each other recently. The game will be now named EA Sports FC. The deal is going to benefit both parties. La Liga will start getting more global recognition and more income for the next five years. Whereas, EA Sports name is going to be associated with La Liga everywhere.
Last year, the League had to sell 10% of its capital to CVC Capital Partners for an estimated amount of 2.7 billion dollars. However, Barcelona, Real Madrid, and Athletic Bilbao refused to sign the agreement. This agreement was made to bail out the clubs after the Coronavirus pandemic.
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