Barclays Close to Premier League Title Sponsorship Renewal

Barclays Bank are close to retaining its title sponsorship of the football Premier League, store according to reports.

The deal is to be estimated £35m ($55m) a-year-plus and expected to be announced in the coming weeks.

Barclays has been the title sponsor of the Premier League since 2004, with Barclaycard the title sponsor between 2001 and 2004.

The Premier League and Barclays have been negotiating over the past month, with one source saying, “it is a done deal.”

The agreement should be more than the previous three-year arrangement which was understood to be valued at around £30m ($47m) a year.  A source close to the negotiations said the new deal was set to be above £35m a year.

It will run from the start of the 2013 season through to the end of the 2015 season and will include exclusive world-wide marketing rights, UK and international TV programme accreditation, extensive advertising packages, match-day tickets and hospitality.

The Premier League have considered a multi-tiered sponsorship deal but this was rejected by Premier League clubs who have to approve the deal.