Newcastle United’s commercial team is currently working hard to secure some fresh commercial avenues and new sponsorship deals. As part of this, its multiyear partnership with British sportswear group Castore is likely to be reviewed.
The news comes on the back of the Magpies prematurely ending their deal with primary kit sponsor Fun88, which has prompted them to look at other options ahead of the 2023 to 2024 season.
Exciting times ahead
In 2022, football sponsorship is changing. For companies, it’s more valuable than ever to be affiliated with popular clubs as sports streaming soars and games are broadcast to more people.
As this article from ExpressVPN reveals, football is currently the most streamed sport in the UK, followed by golf, rugby, cricket, and Formula 1. This trend is only likely to increase as the World Cup 2022 draws attention from around the globe.
So, it’s little wonder the Magpies want to capitalise on this by negotiating some fresh deals. As it stands, former owner Mike Ashley previously agreed a partnership with Castore that should run until 2024. However, there’s no telling which direction club CEO Darren Eales will take this in, and talks are said to be ongoing.
Notably, Andy Murray-backed clothing brand Castore’s deal is worth a mere £5 million per year. While this may seem a sizeable amount to your average Joe, it’s a drop in the ocean compared to Man United’s agreement with Adidas, which is worth £750 million over 10 years.
Certainly, there’s a lot of nostalgia among Toon supporters for a return to the days when it was the Magpies Adidas was partnered with. With this in mind, the appointment of Peter Silverstone as the new commercial chief is likely to cause optimism among fans, as Silverstone is known to have long-standing links to the company.
Indeed, it’s Silverstone who was responsible for many of the successful commercial initiatives at Arsenal in the recent past, including the development of its partnership with Adidas.
Room for improvement
That’s not to say Castore will go the same way as Fun88. When asked about the ongoing partnership between the two, Darren Eales was quick to sing Castore’s praises. Noting he was planning to visit them, he said it was an opportunity for the two to chat and work out how to be the best possible partners for each other.
Eales stated: “From my perspective, we’ve got Castore as a partner that has shown commitment to the club from before I was here – before ownership was here…They’ve been great club partners, but we’ll always look because you can always improve.”
While many saw the change in ownership as the end for Castore, Eales insisted the two will be working together to try to develop and strengthen their partnership. He said it was about deciding how they could help each other to be better.
Importantly, even if the team does want to look for more lucrative opportunities, it won’t be able to do so without first gaining agreement from Castore. That said, if the partnership were to fall by the wayside, there’d be no shortage of companies looking to take up the mantle, especially given Newcastle’s recent form.