Football

50
2015
The annual report on the world’s most valuable football brands
June 2015
Contents
Foreword 4
About Brand Finance 5
Acknowledgements 5
Executive Summary 6
Brand Finance Football 50 2015 Full Results (USDm) 13
Brand Finance Football 50 2015 Full Results (GBPm) 14
Brand Finance Football 50 2015 Full Results (EURm) 15
Methodology 16
Top Ten Profiles 18
Football in the Middle East, GCC FC – Gulf States and World Football 28
Football in the Middle East, An In-Depth Look at Al Ain FC 31
Sponsorship, History, Highlights and Howlers 34
Sponsorship, Foul Play at FIFA 37
Club Interviews, City Football Group 38
Club Interviews, Southampton FC 42
Club Interviews, West Ham United FC 46
Club Interviews, Everton FC 50
Visual Identity Changes in Football: Keeping The Fans Onside 54
Understand Your Brand’s Value 58
Sports Credentials 59
Sports Club Services 60
Sponsor Services 61
Contact Details 62

Brand Finance Football 50 June 2015 3.

Foreword
When looking to improve match-day revenue, the first and
often only recourse is to attempt to enlarge stadia. While a
worthwhile endeavour, this is not always possible, certainly
in the short term. Focussing on the sorts of brand equity
drivers that underpin the strategies of traditional
commercial and retail organisations can be a much
quicker and more efficient route to take. Improving match-
day experience within the stadium, optimising retail
opportunities and engaging with fans can reap rewards.

Huge investments are already being made in the design,

launch, re-launch and ongoing promotion of football
David Haigh, CEO brands. As we have established, this makes sense.
Brand Finance Unfortunately, most clubs fail to go beyond that, missing
huge opportunities to effectively make use of what are
often their most important assets.

Understanding the value of brands is key. As with any

Welcome to the 9th annual Brand Finance Football 50, asset, without knowing the precise, financial value, how
the only study of its kind to analyse and rank football can you know if you are maximising your returns? If you
clubs by the value of their brands, providing a deep are negotiating sponsorship of your brand, how do you
understanding of the opportunities and challenges know what is a fair fee? As a sponsor, how do you know
facing the industry. which organisations are worth associating your brand
with? When considering multiple sponsorships, how to
It is becoming increasingly important for clubs, no matter you determine the funds to allocate to each? How do you
what their size, to recognise the value of their brands. best determine return on investment? Even players should
Enduring fan loyalty, ever-increasing income from take note. Few will be as commercially successful as
broadcasting rights and the deep pockets of owners can ‘brand Beckham’, but image rights can be very lucrative
mean that brand is overlooked as an opportunity to and form a detailed part of contract negotiations. If you are
maximise revenue by some major clubs. However with intending to license your personal brand, how can you
wage inflation pressing from one side and financial fair know the correct price?
play regulations from the other, maximising revenue is
critical and harnessing brands is a key way to do so. Brand Finance has conducted hundreds of brand and
branded-business valuations to help answer these
Brand can be leveraged for financial gain across all three questions. We have worked with companies of all shapes
income streams, not just commercial (which includes and sizes, from blue-chip internationals such as Vodafone
sponsorship and merchandising). If we look at the and Shell, to football clubs and other sports franchises
‘broadcasting’ stream, the record-breaking Premier from Europe and the wider world. Whether you’re an
League deal for the right to show games from the three owner, marketer, director, sponsor, player or a fan, we
seasons from 2016 reflects the strength of the Premier hope you enjoy the Brand Finance Football 50 2015 and
League brand. That strength comes both from the shrewd come away with a better understanding of why brands
management of those in charge of the league, but also matter and what they can do for you.
from the individual clubs themselves, whose mythology
and iconography have been integral to the league’s
development.

4. Brand Finance Football 50 June 2015

About Brand Finance
Brand Finance is the world’s leading independent
brand valuation and strategy consultancy. Brand
Finance was set up in 1996 with the aim of ‘bridging the
gap between marketing and finance’. For almost 20 years
we have helped companies and organisations of all types
(including clubs, sponsors, leagues and governing bodies)
to connect their brands to the bottom line.

We pride ourselves on four key strengths:

• Independence
• Technical Credibility
• Transparency
• Expertise

Brand Finance puts thousands of the world’s biggest

Global
500
brands to the test every year, evaluating which are the most
powerful and most valuable. The Football 50 is just one of
many annual reports produced by Brand Finance. 2015
The annual report on the world’s most valuable global brands
February 2015

For more information, please visit our website:

http://brandfinance.com/

Acknowledgements
Contributors Data Sources

Brand Finance: External:

Alex Nixon Tom Connell – VI360

Liam Wong Kate Tarry – Southampton FC
Richard Yoxon Alison Canning – City Football Group
Amneet Bains Andrew Gilligan – City Football Group
Robert Haigh Al Ain FC
Sarah Doll Chris Lilley – Kickdex
Sean Connell Tarra Warren – West Ham United
Matt Hannagan Adam Walker – Everton FC
Bryn Anderson
Andy Moore Designer:
Andrew Campbell
David Haigh Adrian Taylor

Brand Finance Football 50 June 2015 5.


Executive Summary

Football
50
Billion Dollar Devils Slip Ups on the Pitch

Despite another season without silverware, Manchester However even at that point cracks appeared to be
United has reclaimed its position at the top of the Brand forming; United lost the Premier League to Man City,
Finance Football 50, knocking Bayern Munich off the long-term local rivals but a new force at the top of
top spot. The Red Devils have become the first billion English football. Though the Red Devils reclaimed the
dollar football brand, with 63% growth bringing the total title the following year, news of Sir Alex Ferguson’s
brand value to $1.2 billion. retirement made it a Pyrrhic victory, with the future
success of the club thrown into doubt. This uncertainty
Fergie Time saw United’s brand value drop for the first time to $837
million, but worse was to come.
Manchester United became the world’s most valuable
football club brand for the first time in 2009. With Sir David Moyes’ disastrous debut season saw United finish
Alex Ferguson still at the helm the club dominated the 7th, losing not just the pride of the Premier League title,
English game and (following that year’s Champions but the crucial income from European football, with even
League victory) the European one too. Though not the Europa League seemingly beyond them. In
always popular with fans, the Glazers’ commercial consequence, United’s brand value fell again, this time
strategy saw United outshine rivals off the field. A peak much more steeply, to $739 million. This put United 3rd
brand value of $853 million was reached in 2012, with in the Brand Finance Football 50 2014, the club’s lowest
the club even further ahead of the competition. position since the inception of the study.

6. Brand Finance Football 50 June 2015

Real Madrid moved up into 2nd place following the Top 10 Most Valuable Football Brands
glory of ‘La Decima’ and world beating revenues,
while Bayern Munich remained the world’s most
valuable football club (despite flat growth) thanks to 1 Rank 2015: 1 2014: 3
BV 2015: $1,206m
BV 2014: $739m
+63%
lucrative, loyal sponsors and committed fans.
Brand Rating: AAA

Moyes was dispatched swiftly in favour of Louis van

Gaal, much admired manager of the Dutch national
team. Yet the hoped for revitalisation of van Gaal’s
2 Rank 2015: 2 2014: 1
BV 2015: $933m
BV 2014: $896m
+4%
countryman and star striker, Robin van Persie, has Brand Rating: AAA
failed to materialise, new signing Falcao has fallen flat
and United appear to be some way off a realistic title
challenge. A recent report from Spain’s Sport 3 Rank 2015: 3 2014: 2
BV 2015: $873m
BV 2014: $768m
+14%
newspaper suggested United’s global fan base had
Brand Rating: AAA+
dropped by as much as 19% due to its recent

4
performance. As a result, it might seem reasonable to Rank 2015: 4 2014: 5
conclude that United’s brand is in a rather precarious BV 2015: $800m
+57%
state. BV 2014: $510m
Brand Rating: AAA-
But Success in the Boardroom

However on the marketing and financial fronts, United

5 Rank 2015: 5 2014: 7
BV 2015: $795m
BV 2014: $502m
+58%
has continued to thrive. Even if recent reports of fan Brand Rating: AAA
losses are to be believed, United retains legions of
followers in India, South East Asia and China,
contributing to a total of over half a billion individuals 6 Rank 2015: 6 2014: 4
BV 2015: $773m
BV 2014: $622m
+24%
and the news certainly does not appear to have
Brand Rating: AAA+
deterred sponsors. The current shirt deal with
Chevrolet is worth more than double that with
previous partner AON and has secured £47 million a
year for seven years. In 2014, Nike decided to end its
7 Rank 2015: 7 2014: 6
BV 2015: $703m
BV 2014: $505m
+39%
longstanding relationship with United, but rather than Brand Rating: AAA
heralding a loss of faith amongst sponsors, it merely
opened the door for another record-breaking
agreement; Adidas will be Man U’s kit provider for the 8 Rank 2015: 8 2014: 8
BV 2015: $577m
BV 2014: $469m
+23%
next 10 years in a deal worth £750 million. On an
Brand Rating: AAA-
annual basis, this is more than triple what Nike had
been paying (£23.5 million / year). Though United’s
revenues for the 9 months to March 31st 2015
actually fell compared to the previous period last year
9 Rank 2015: 9 2014: 10
BV 2015: $541m
BV 2014: $324m
+67%
(mainly due to the lack of Champions League Brand Rating: AAA-
football), the huge windfalls that it can expect will see
both revenues and brand value continue to increase
in the coming years. 10 Rank 2015: 10 2014: 12
BV 2015: $360m
BV 2014: $248m
+45%
Brand Rating: AA+

Brand Finance Football 50 June 2015 7.


Executive Summary
Van Gaal Steadies the Ship Number of Teams from the Brand Finance
Football 50 2015 supplied
Though van Gaal’s first season has been somewhat
underwhelming, he has at least steadied the ship and
secured his team an all important Champions League
place. That represents minimum guaranteed
broadcasting income of €12 million, but should United
progress it could be substantially more. It provides the
international visibility and prestige for sponsor brands,
justifying their faith in the club, as well as an additional
stream of matchday revenue.

No Gold Without Silverware

Fortunately for fans, this is a key area where on-pitch

performance and commercial concerns are closely
aligned. Though United is back in the Champion’s
League, this year’s performance will not have been enough
to settle sponsors’ nerves decisively. A more convincing
finish in 2016 will be essential to reassure them and any
future suitors. In addition, United’s brand rating, which
reflects the brand’s power and prestige, remains AAA.
Regaining AAA+ status (which Barca and Real Madrid
enjoy) will provide a further boost to United’s brand value
but will require titles and trophies. Executive VP Ed
Woodward clearly understands that the commercial and
competitive sides of the club cannot be run in isolation.
United’s commercial architect has suggested United will
be aiming for all four trophies next season, commenting
recently “Is the squad deep enough to challenge? The
squad will be absolutely deep enough and ready to
challenge on all fronts, all competitions next year.”

Premier League Payday

The most critical success factor in the Manchester United

brand’s renewed financial potency has been this year’s
record-breaking £5.1 billion deal for the UK broadcast
rights of the Premier League. The deal will cover the three
seasons from 2016 and the high price, which represents
a 71% increase on the last round, is the result of an
accelerating battle for content between telecoms
companies BT and Sky. Premier League clubs will receive
an average of £81 million per season each. The news saw
Manchester United’s share price immediately jump 5%.

8. Brand Finance Football 50 June 2015

 Winners and Losers The deal has been a boon to all Premier League clubs,
which have surged up the rankings of the Brand Finance
Southampton FC 89%
Football 50. Leicester, a team which in April was bottom
Everton FC 88% of the Premier League table and seemingly destined for
Stoke City FC 87% relegation and obscurity, has entered the rankings at
West Ham United FC 86% 42nd with a brand value of over $100 million. The Foxes
São Paulo FC 74% ended the season on a high with seven wins from nine,
Paris Saint-Germain FC 67% guaranteeing a second successive season in the English
Manchester United FC 63% top flight and a slice of the record-breaking revenues.
Chelsea FC 58% Despite lacking a global profile, these alone give
Manchester City FC 57% Leicester’s brand the financial pulling power to enter the
West Bromwich Albion FC 57% list of the world’s most valuable football club brands.
5% FC Internazionale Milano
The Saints Go Marching On
4% FC Bayern München
3% AC Milan
Southampton is another club to have benefitted. The
1% Olympique Lyonnais
Saints’ brand value has grown more than any other this
0% Borussia Dortmund
year, up 89% to $183 million. However Southampton has
-3% AFC Ajax been more than a passive beneficiary of booming
-4% FC Schalke 04 broadcast revenues. Despite changing manager twice
-6% SV Werder Bremen and selling many of their top players to larger clubs, it has
-9% SC Corinthians Paulista gone from strength to strength since promotion in 2012.
-25% Hamburger SV The club’s apparent knack for indentifying talented young
-50 -25 0 25 50 75 100 125 150 175 200 players at a reasonable cost and developing them into
stars has enabled it to climb the Premier League rankings
Manchester United FC $467 whilst turning a tidy profit. Ronald Koeman has
Chelsea FC $293 masterminded a 7th place finish that means a club facing
Manchester City FC $290 administration in 2009 and playing in the third tier of
Paris Saint-Germain FC $217 English football in 2010 is just two points behind
Arsenal FC $198
Liverpool, a club with an enduringly popular global brand.
FC Barcelona
Southampton can look forward to European football next
$151
season and the chance to build its own brand on the
Tottenham Hotspur FC $111
international stage.
Liverpool FC $108
Everton FC $107
Southampton’s recent rise is one of the features that
Real Madrid CF $104
explain the popularity of the Premier League. Though the
$8 AC Milan Bundesliga is efficiently and equitably run, arguably
$7 FC Internazionale Milano offering a better deal for fans, and La Liga has the drama
$4 Sevilla FC of El Classico, neither can match the Premier League for
$1 Olympique Lyonnais drama. Three different teams have now won the title in the
$-1 Borussia Dortmund last three years. Though five or six dominate the
$-4 AFC Ajax Champions’ league places, any of these big beasts can
$-6 SV Werder Bremen be toppled by dogged opposition from provincial
$-8 SC Corinthians Paulista minnows that fight until the end of injury time.
$-12 FC Schalke 04
$-35 Hamburger SV
Brand Finance Football 50 June 2015 9.

Executive Summary
Barclays Calls Time Geographic Split of Total Brand Value 2015

With that in mind it is interesting to note that Barclays, the Others

league’s sponsor since 2001, has decided not to renew 7%
when the current agreement comes to an end in 2016. France
7%
Barclays paid £120 million for the three seasons from 2013
to 2016. Though this was a 50% increase on the previous
Italy
deal, it still appears a very good deal for the bank. Not only 9%
is it the title sponsor of the world’s most popular league, its
name and logo are pervasive, appearing on the trophy England & Wales
46%
ribbons, press boards, the shirt of every player in the league
and in almost every piece of coverage about the league, Spain
15%
including that from the endorsement-wary BBC. The
Premier League has helped Barclays expand its Asian
operations and forms an integral part of its visual identity in
bank branches. While the cost for Barclays’ successor is Germany
16%
likely to be significantly higher than the existing deal, it
would appear that the return on investment for the right
sponsor (perhaps from the tech, telecoms, auto or airlines
sectors) could be very significant. Country Total Brand Value (USDm) % of total
England & Wales 6129 46%
Bayern Puts on the Brakes Germany 2208 16%
Spain 1984 15%
Only four of the clubs in the top ten are not part of the Italy 1172 9%
Premier League. Bayern Munich is top amongst them. France 983 7%
Last year’s most valuable football club brand has had Turkey 297 2%
another year of relatively flat growth, increasing its brand Netherlands 230 2%
value by just 4%, so is being rapidly caught up by fast- Brazil 173 1%
growing English teams. Bayern must internationalise its Scotland 120 1%
appeal in order to stay at (or near) the top. Though Portugal 103 1%
commercial revenue is high, there are few opportunities Total 13,401 100%
to extract further value from its current fan base, which is
much more domestic in its composition than other top
teams. Broadcasting revenues are much lower than the
top Premier League, La Liga and even Serie A clubs as
the Bundesliga simply does not excite international
audiences in the same way. That is a harder problem to
fix and Bayern’s dominance of that league makes it a Brand Values of the Major Kit Suppliers
victim of its own success.

Real Madrid has the highest revenues of any club and

along with Barca is the only club to have been awarded
the top AAA+ brand rating. However Spain’s riskier
political and economic climate, as well as forecasts of Brand Value Brand Value Brand Value
Real’s potential for growth, limit the financial potential of
the brand. A lacklustre Champions league campaign, by
$24.1b $6.8b $1.9b
10. Brand Finance Football 50 June 2015
Real’s usual standards, and a second place finish in La Top 10 Most Powerful Football Brands
Liga have not helped matters. As a result there has been a
relatively modest growth in brand value of 14% and Real
returns to third place with a brand value of $873 million. 1 AAA+
Brand Rating

BSI Score (/100): 93

$28 Million CL Victory Can’t Stop Barca’s Slide

Barcelona’s successes on the pitch have helped it close

the gap on Real. Securing the treble has enhanced
2 AAA+
Brand Rating

Barca’s brand strength yet further, allowing it to overtake BSI Score (/100): 91
Real to become the most powerful football club brand.
Brand value has been boosted by $28 million by the
Champions win league alone, contributing to a total 3 AAABrand Rating

increase of $151 million dollars that brings Barca’s total BSI Score (/100): 89
brand value to $773 million. However as glorious as
Barca’s record may be, it simply has not been able to
harness its brand to the same extent as either Real or the
rapidly growing English teams. Man City and Chelsea
4 AAABrand Rating

have both overtaken it. BSI Score (/100): 88

Paris Saint-Germain continues its rapid rise. After adding

$238 million to its brand value from 2013 to 2014, this 5 AAABrand Rating

year it has almost equalled the feat, adding $217 million BSI Score (/100): 88
to reach a total of $541 million. Though there is still scope

6 AAA
for PSG to grow, to avoid its brand value reaching a Brand Rating
plateau, it may be forced to show rival clubs a little
fraternité in order to revive the fortunes of and
BSI Score (/100): 86
international interest in Ligue 1.

Juventus Rejuvenated
7 AAABrand Rating

Juventus has just missed out on a place in the top ten BSI Score (/100): 85
after what was so nearly a perfect season. Victory in Serie
A and the Coppa Italia made it a triumphant year for
manager Massimiliano Allegri who has defied the critics. 8 AAA-
Brand Rating

On pitch success has been matched by lucrative

BSI Score (/100): 83
commercial deals. Adidas will replace Nike as the club’s
kit supplier in a €139.5 million deal. Brand value has risen
42% to $350 million. Juventus appears to have made a
comprehensive recovery from the scandals that dogged
9 AAA-
Brand Rating

the club a decade ago. The sale of a 48% stake in AC BSI Score (/100): 82
Milan to Thai businessman Bee Taechaubol suggests that
global audiences and investors are beginning to see
Serie A clubs as prospects that cannot be ignored. If 10 AAA- Brand Rating

Juventus continues to perform so well, in particular in BSI Score (/100): 82

Europe, prospects for further growth look good.

Brand Finance Football 50 June 2015 11.


Executive Summary
Historic Team Brand Value
1250
Manchester United FC
FC Bayern Munich
Real Madrid CF
1125 Manchester City FC
Chelsea FC
FC Barcelona
1000 Arsenal FC
Liverpool FC
Paris Saint-Germain FC
Tottenham Hotspur FC
875
Brand value (US$bn)

750

625

500

375

250

125

0
2007
2007 2008
2008 2009
2009 2010
2010 2011 2012
2012 2013
2013 2014
2014 2015
2015
AC Milan win AC Milan Barcelona Cristiano The Euro Manchester Sir Alex Manchester Barca win the
Champions finish win the Ronaldo crisis starts to City win the Ferguson United miss treble
League Champions finishes first take its toll on Premier retires out on
5th in Serie A League season at Spanish and League European Record-
Manchester Real Madrid Italian clubs Bayern football for 1st breaking
City following Munich win time in 24 yrs’ Premier
purchased by £80m transfer the League rights
Abu Dhabi from United Champions Man City win deal agreed
United Group League Premier
League title for Manchester
2nd time in 3 United agrees
yrs deal to triple
kit supplier
income

12. Brand Finance Football 50 June 2015

Brand Finance Football 50 2015
Full Results (USDm)
Most valuable football brands USD 1-50.
Rank Rank Club Country 2015 Brand 2015 Brand 2014 Brand 2014 Brand Change % Change
2015 2014 Value ($m) Rating Value ($m) Rating ($m)
1 3 Manchester United FC England 1,206 AAA 739 AAA 467 63%
2 1 FC Bayern Munich Germany 933 AAA 896 AAA 36 4%
3 2 Real Madrid CF Spain 873 AAA+ 768 AAA+ 104 14%
4 5 Manchester City FC England 800 AAA- 510 AAA- 290 57%
5 7 Chelsea FC England 795 AAA 502 AAA- 293 58%
6 4 FC Barcelona Spain 773 AAA+ 622 AAA+ 151 24%
7 6 Arsenal FC England 703 AAA 505 AAA- 198 39%
8 8 Liverpool FC England 577 AAA- 469 AAA- 108 23%
9 10 Paris Saint-Germain FC France 541 AAA- 324 AAA- 217 67%
10 12 Tottenham Hotspur FC England 360 AA+ 248 AA+ 111 45%
11 13 Juventus FC Italy 350 AAA 247 AAA 103 42%
12 9 Borussia Dortmund Germany 326 AAA- 327 AAA- (1) 0%
13 11 FC Schalke 04 Germany 302 AA+ 313 AA+ (12) -4%
14 14 AC Milan Italy 244 AAA- 236 AAA- 8 3%
15 20 Everton FC England 228 AA 121 AA+ 107 88%
16 24 West Ham United FC England 209 AA 112 AA- 97 86%
17 New AS Monaco France 202 A+
18 30 Southampton FC England 183 AA 96 AA- 86 89%
19 17 Galatasaray AŞ Turkey 177 AA+ 141 AA+ 36 26%
20 15 FC Internazionale Milano Italy 160 AAA- 152 AA+ 7 5%
21 23 Aston Villa FC England 155 AA 115 AA 40 35%
22 27 Newcastle United FC England 155 AA 102 AA 53 52%
23 19 Club Atlético de Madrid Spain 151 AA+ 126 AAA- 24 19%
24 21 SSC Napoli Italy 147 AA+ 121 AA+ 27 22%
25 16 AFC Ajax Netherlands 145 AA+ 149 AA+ (4) -3%
26 41 Stoke City FC England 140 AA- 75 AA- 65 87%
27 New Swansea City Wales 135 A
28 22 Bayer 04 Leverkusen Germany 135 AA 116 AA 19 16%
29 32 Sunderland AFC England 134 AA 93 AA- 40 43%
30 New Crystal Palace England 133 A
31 33 Olympique de Marseille France 129 AA 91 AA 38 41%
32 28 VfB Stuttgart Germany 121 AA- 102 AA 19 19%
33 35 Fenerbahçe SK Turkey 120 AA 87 AA 33 38%
34 38 Celtic FC Scotland 120 AA 84 AA+ 36 43%
35 26 AS Roma Italy 117 AA+ 108 AA+ 9 8%
36 34 VfL Wolfsburg Germany 116 AA 91 AA 25 27%
37 42 West Bromwich Albion FC England 115 AA 74 AA- 42 57%
38 25 Olympique Lyonnais France 111 AA 110 AA 1 1%
39 29 Valencia CF Spain 107 AA 99 AA 8 8%
40 39 SL Benfica Portugal 103 AA+ 83 AA+ 20 24%
41 18 Hamburger SV Germany 103 AA 138 AA (35) -25%
42 New Leicester City England 102 A
43 48 São Paulo FC  Brazil 95 AA 54 A 40 74%
44 31 SV Werder Bremen Germany 88 AA- 94 AA (6) -6%
45 New Borussia Mönchengladbach Germany 86 A+
46 45 PSV Eindhoven Netherlands 86 AA 59 AA+ 27 46%
47 40 Sevilla FC Spain 81 AA 77 AA 4 5%
48 36 SC Corinthians Paulista  Brazil 79 AA 87 A (8) -9%
49 44 SS Lazio SpA Italy 78 AA 62 AA 16 27%
50 New ACF Fiorentina Italy 76 AA

Brand Finance Football 50 June 2015 13.

Brand Finance Football 50 2015
Full Results (GBPm)
Most valuable football brands GBP 1-50.
Rank Rank Club Country 2015 Brand 2015 Brand 2014 Brand 2014 Brand Change % Change
2015 2014 Value (£m) Rating Value (£m) Rating (£m)
1 3 Manchester United FC England 727 AAA 440 AAA 287 65%
2 1 FC Bayern Munich Germany 562 AAA 534 AAA 28 5%
3 2 Real Madrid CF Spain 526 AAA+ 457 AAA+ 68 15%
4 5 Manchester City FC England 482 AAA- 304 AAA- 179 59%
5 7 Chelsea FC England 479 AAA 299 AAA- 180 60%
6 4 FC Barcelona Spain 465 AAA+ 370 AAA+ 95 26%
7 6 Arsenal FC England 423 AAA 300 AAA- 123 41%
8 8 Liverpool FC England 347 AAA- 279 AAA- 68 24%
9 10 Paris Saint-Germain FC France 326 AAA- 193 AAA- 133 69%
10 12 Tottenham Hotspur FC England 217 AA+ 148 AA+ 69 47%
11 13 Juventus FC Italy 211 AAA 147 AAA 64 44%
12 9 Borussia Dortmund Germany 196 AAA- 195 AAA- 2 1%
13 11 FC Schalke 04 Germany 182 AA+ 187 AA+ (5) -3%
14 14 AC Milan Italy 147 AAA- 140 AAA- 7 5%
15 20 Everton FC England 137 AA 72 AA+ 65 91%
16 24 West Ham United FC England 126 AA 67 AA- 59 89%
17 New AS Monaco France 122 A+
18 30 Southampton FC England 110 AA 57 AA- 53 91%
19 17 Galatasaray AŞ Turkey 107 AA+ 84 AA+ 23 27%
20 15 FC Internazionale Milano Italy 96 AAA- 91 AA+ 5 6%
21 23 Aston Villa FC England 94 AA 68 AA 25 37%
22 27 Newcastle United FC England 93 AA 61 AA 33 53%
23 19 Club Atlético de Madrid Spain 91 AA+ 75 AAA- 16 21%
24 21 SSC Napoli Italy 89 AA+ 72 AA+ 17 24%
25 16 AFC Ajax Netherlands 87 AA+ 89 AA+ (2) -2%
26 41 Stoke City FC England 84 AA- 45 AA- 40 89%
27 New Swansea City Wales 82 A
28 22 Bayer 04 Leverkusen Germany 81 AA 69 AA 12 18%
29 32 Sunderland AFC England 80 AA 56 AA- 25 45%
30 New Crystal Palace England 80 A
31 33 Olympique de Marseille France 78 AA 54 AA 23 43%
32 28 VfB Stuttgart Germany 73 AA- 61 AA 12 20%
33 35 Fenerbahçe SK Turkey 72 AA 52 AA 21 40%
34 38 Celtic FC Scotland 72 AA 50 AA+ 22 45%
35 26 AS Roma Italy 71 AA+ 64 AA+ 6 10%
36 34 VfL Wolfsburg Germany 70 AA 54 AA 16 29%
37 42 West Bromwich Albion FC England 70 AA 44 AA- 26 59%
38 25 Olympique Lyonnais France 67 AA 65 AA 2 3%
39 29 Valencia CF Spain 64 AA 59 AA 6 10%
40 39 SL Benfica Portugal 62 AA+ 50 AA+ 13 25%
41 18 Hamburger SV Germany 62 AA 82 AA (20) -24%
42 New Leicester City England 61 A
43 48 São Paulo FC  Brazil 57 AA 32 A 25 76%
44 31 SV Werder Bremen Germany 53 AA- 56 AA (3) -5%
45 New Borussia Mönchengladbach Germany 52 A+
46 45 PSV Eindhoven Netherlands 52 AA 35 AA+ 17 48%
47 40 Sevilla FC Spain 49 AA 46 AA 3 6%
48 36 SC Corinthians Paulista  Brazil 47 AA 52 A (4) -8%
49 44 SS Lazio SpA Italy 47 AA 37 AA 10 28%
50 New ACF Fiorentina Italy 46 AA

14. Brand Finance Football 50 June 2015

Brand Finance Football 50 2015
Full Results (EURm)
Most valuable football brands EUR 1-50.

Rank Rank Club Country 2015 Brand 2015 Brand 2014 Brand 2014 Brand Change % Change
2015 2014 Value (€m) Rating Value (€m) Rating (€m)
1 3 Manchester United FC England 914 AAA 543 AAA 371 68%
2 1 FC Bayern Munich Germany 707 AAA 659 AAA 48 7%
3 2 Real Madrid CF Spain 661 AAA+ 565 AAA+ 96 17%
4 5 Manchester City FC England 607 AAA- 375 AAA- 232 62%
5 7 Chelsea FC England 602 AAA 369 AAA- 233 63%
6 4 FC Barcelona Spain 586 AAA+ 457 AAA+ 128 28%
7 6 Arsenal FC England 533 AAA 371 AAA- 162 44%
8 8 Liverpool FC England 437 AAA- 345 AAA- 92 27%
9 10 Paris Saint-Germain FC France 410 AAA- 238 AAA- 172 72%
10 12 Tottenham Hotspur FC England 273 AA+ 183 AA+ 90 49%
11 13 Juventus FC Italy 265 AAA 181 AAA 84 46%
12 9 Borussia Dortmund Germany 247 AAA- 240 AAA- 6 3%
13 11 FC Schalke 04 Germany 229 AA+ 230 AA+ (2) -1%
14 14 AC Milan Italy 185 AAA- 174 AAA- 11 7%
15 20 Everton FC England 173 AA 89 AA+ 84 94%
16 24 West Ham United FC England 158 AA 82 AA- 76 92%
17 New AS Monaco France 153 A+
18 30 Southampton FC England 138 AA 71 AA- 67 95%
19 17 Galatasaray AŞ Turkey 135 AA+ 104 AA+ 31 30%
20 15 FC Internazionale Milano Italy 121 AAA- 112 AA+ 9 8%
21 23 Aston Villa FC England 118 AA 84 AA 33 39%
22 27 Newcastle United FC England 118 AA 75 AA 42 56%
23 19 Club Atlético de Madrid Spain 114 AA+ 93 AAA- 21 23%
24 21 SSC Napoli Italy 112 AA+ 89 AA+ 23 26%
25 16 AFC Ajax Netherlands 110 AA+ 110 AA+ 0 0%
26 41 Stoke City FC England 106 AA- 55 AA- 51 92%
27 New Swansea City Wales 103 A
28 22 Bayer 04 Leverkusen Germany 102 AA 85 AA 17 20%
29 32 Sunderland AFC England 101 AA 69 AA- 33 47%
30 New Crystal Palace England 100 A
31 33 Olympique de Marseille France 98 AA 67 AA 31 45%
32 28 VfB Stuttgart Germany 91 AA- 75 AA 17 22%
33 35 Fenerbahçe SK Turkey 91 AA 64 AA 27 42%
34 38 Celtic FC Scotland 91 AA 61 AA+ 29 48%
35 26 AS Roma Italy 89 AA+ 80 AA+ 9 12%
36 34 VfL Wolfsburg Germany 88 AA 67 AA 21 31%
37 42 West Bromwich Albion FC England 88 AA 54 AA- 33 62%
38 25 Olympique Lyonnais France 84 AA 81 AA 4 4%
39 29 Valencia CF Spain 81 AA 73 AA 8 12%
40 39 SL Benfica Portugal 78 AA+ 61 AA+ 17 28%
41 18 Hamburger SV Germany 78 AA 101 AA (23) -23%
42 New Leicester City England 77 A
43 48 São Paulo FC  Brazil 72 AA 40 A 32 79%
44 31 SV Werder Bremen Germany 67 AA- 69 AA (2) -3%
45 New Borussia Mönchengladbach Germany 65 A+
46 45 PSV Eindhoven Netherlands 65 AA 43 AA+ 22 50%
47 40 Sevilla FC Spain 62 AA 57 AA 5 8%
48 36 SC Corinthians Paulista  Brazil 60 AA 64 A (4) -6%
49 44 SS Lazio SpA Italy 59 AA 45 AA 14 31%
50 New ACF Fiorentina Italy 58 AA

Brand Finance Football 50 June 2015 15.

Methodology
What do we mean by ‘brand’?

Definitions
E.g.
City + Enterprise Value – the value of the entire
‘Branded Football enterprise, made up of multiple branded
Enterprise’ Group businesses

‘Branded
Business’

+ Branded Business Value – the value of a

‘Brand’ E.g. single branded business operating under
Manchester
City the subject brand

+ Brand Value – the value of the trade

Manchester
City marks (and relating marketing IP and
Brand ‘goodwill’ attached to it) within the
branded business

Definition of ‘Brand’ Brand Strength

In the very broadest sense, a brand is the focus for all the Brand Strength is the part of our analysis most directly and
expectations and opinions held by fans, players, staff and easily influenced by those responsible for marketing and
other stakeholders about a club. However when looking at brand management as well as success on the pitch. In
brands as business assets that can be bought, sold and order to determine the strength of a brand we have
licensed, a more technical definition is required. Brand developed the Brand Strength Index (BSI). We analyse
Finance helped to craft the internationally recognised marketing investment, brand equity (the goodwill
standard on Brand Valuation, ISO 10668. That defines a accumulated with fans, customers, staff and other
brand as “a marketing related intangible asset including, stakeholders), which includes on-pitch success, and finally
but not limited to, names, terms, signs, symbols, logos and the impact of those on business performance. Following
designs, or a combination of these, intended to identify this analysis, each brand is assigned a BSI score out of
goods, services or entities, or a combination of these, 100, which is fed into the brand value calculation. Based
creating distinctive images and associations in the minds of on the score, each brand in the league table is assigned a
stakeholders, thereby generating economic benefits/value” rating between AAA+ and D in a format similar to a credit
rating. AAA+ brands are exceptionally strong and well
managed while a failing brand would be assigned a D
grade.

16. Brand Finance Football 50 June 2015

Brand strength index Brand Brand revenues Brand value
(BSI) ‘Royalty rate’

Brand Strong brand Match-day

investment

Brand Commercial
equity

Brand
Weak brand
performance Broadcasting

Brand strength expressed BSI score applied to an Split revenue into separate Post-tax brand revenues
as a BSI score out of 100. appropriate sector royalty streams for each service are discounted to a net
rate range. area. Royalty rates applied present value (NPV) which
to forecast revenues to equals the brand value.
derive brand values

The Valuation Process each have their own respective royalty rate applicable to
them. The royalty rates are derived by looking at
Brand Finance calculates the values of the brands in its
comparable agreements and through in-house analysis.
league tables using the ‘Royalty Relief approach’. This
3 
Calculate royalty rate. The brand strength score is applied
approach involves estimating the likely future sales that are
to the royalty rate range to arrive at a royalty rate. For
attributable to a brand and calculating a royalty rate that
example, if the royalty rate range in a brand’s sector is
would be charged for the use of the brand, i.e. what the
0-5% and a brand has a brand strength score of 80 out of
owner would have to pay for the use of the brand if it were
100, then an appropriate royalty rate for the use of this
not already owned.
brand in the given sector will be 4%.
4 
Determine brand specific revenues estimating a proportion
1 
Calculate brand strength on a scale of 0 to 100: the BSI
of parent company revenues attributable to a specific
captures the ability of clubs to drum up popular interest
brand.
and then convert interest into support and custom. The
5 Determine forecast brand specific revenues using a
BSI covers three broad topics of brand investment, equity
function of historic revenues, equity analyst forecasts and
in the form of emotional connection harboured by a brand,
economic growth rates.
and bottom line commercial performance.
6 
Apply the royalty rate to the forecast revenues to derive
2 
As brand has differing effects on each source of income,
brand revenues.
we then split revenues down into three streams: match-
7 
Brand revenues are discounted post tax to a net present
day, broadcasting and commercial. As brands have
value, equal to the brand value.
differing effects on different revenue streams, these will

Brand Finance Football 50 June 2015 17.


Top Ten Profiles
1 Manchester United FC
After a two year absence Manchester United FC is back on
Brand Value top of the Brand Finance Football 50 as the first football
$1,206M brand to smash the Billion Dollar Brand barrier. Improved on
pitch performance, new commercial mega-deals and the
Brand Rating English Premier League’s (EPL) new TV deal work together
AAA to ensure United’s Phoenix-esque return to the top.

Louis Van Gaal halted the club’s decline this year,

dragging the club back into the UEFA Champions League
and reinstalling a sense of optimism and belief. Backed up
by big signings over the summer (Angel Di Maria, Ander
Herrera & Radamel Falcao) Van Gaal and United signalled
their intent that the dismal 2014 would go down in history
Shirt Sponsor Kit Manufacturer as just a small blemish footnote rather than a turning point.
Annual Value From 2015/16
$79.9M Annual Value As a testament to this renewed belief in the United brand,
new technical sponsor Adidas was brought on board for a
$126.8M
record breaking £750m over ten years. Proof if ever it was
needed that a strong brand will help you in tough times.
United can now boast 64 different partners, by far the most
diverse portfolio of sponsors and technical partners in the
business, providing a wide variety of brand touch points
for fans.

It is no surprise global brands are desperate to join

United’s ever growing commercial cast list. Travelling to
the US on its pre-season tour, United beat Real Madrid in
front of 109,318 fans – demonstrating there is no small
appetite for their brands in the world’s biggest economy,
let alone the rest of the world.

Equally, the new EPL broadcasting deal will kick in for the
2016/17 season, doubling the Red Devils’ expected
broadcasting earnings. With buoyed revenues, all EPL
clubs including United, will be able to spend more on top
footballing talent, cementing their place in their fans’
hearts, playing better football and ultimately, in United’s
case, allow them to compete at the very highest level of
European competition.

Over the next few years everything is set for an English

resurgence in Europe and van Gaal will definitely have his
eyes set on his second Champions League trophy and
United’s fourth.

18. Brand Finance Football 50 June 2015

 2 FC Bayern Munich
A 25th Bundesliga wasn’t enough for the FCB to stay on
Brand Value top of the Brand Finance Football 50, with Manchester
$933M United’s return relegating them into 2nd place.

Brand Rating Bayern’s brand value remained fairly static in 2015 with
AAA marginal growth of 3%. The German club has become a
victim of its own success where a European semi final
and the foregone conclusion of an all-too-easy domestic
campaign left little for the footballing community to get
excited about.

When compared to their European Football 50 rivals,

Bayern has failed to excite in the transfer market. Where
Shirt Sponsor Kit Manufacturer Real, Man Utd and Barca have signed megastars
Annual Value Annual Value Rodriguez, di Maria and Suarez, Bayern signed Robert
$37.5M $67.3M Lewandowski. Without doubt an excellent signing, but
one that did not excite – the deal being a free transfer and
sewn up well before the end of the 2013/14 season.
Equally the signing of Xabi Alonso was no doubt good
business, but not something that caught headlines and
captured the imagination of fans around the world.

To call Bayern stereotypically German – efficient, but a bit

dull – would be doing a disservice to the excellent football
they play and the vibrant personalities they already
possess. But it does highlight that at the very top of the
highly competitive football environment, staying still is the
same as going backwards.

After all, Bayern has made a very successful club out of

being very German. A look at its key sponsors shows
there is a clear strategy, with Samsung the only non-
German sponsor of significance. Linked up with huge
German brands such as Audi, Allianz, Adidas and with its
headline sponsor Deutsche-Telekom agreeing to a €30m
a year extension there is a lot to be said for sticking to
your core market.

However, the Munich giants appear to recognise that to

grow they must become more global, recently setting up
an office in New York and embarking on a USA pre-
season tour.

Brand Finance Football 50 June 2015 19.


Top Ten Profiles
3 Real Madrid CF
On the back of “La Decima” (Real’s 10th Champions
Brand Value League Title), cementing Real as the most successful

$873M European club of all time, the Spanish giants have had a
difficult season per their own high standards. Although it
Brand Rating maintains its AAA+ rating, Real is no longer the strongest
brand in football, losing out to Barcelona, whose
AAA+ Champions League victory finally puts it on top.

A season lacking major silverware puts their haul over the

last decade at 6 major titles – no mean feat if this was any
other club. However, Real is not any other club and
questions must be asked about whether its transfer outlay
over the same period of €1,108m has been worth it.
Shirt Sponsor Kit Manufacturer Ancelotti is the latest in a long line of managerial victims
Annual Value Annual Value that go with the huge expectations surrounding the
$39M $49M Bernabeu, sacked just 366 days after winning Real’s first
Champions League title for 12 years.

This sentiment is reflected in Real’s results in the Brand

Finance Football 50; despite a small growth in brand value
(to USD$868m) it has been leapfrogged by the return to
form of European rivals Manchester United.

It is by no means all doom and gloom in Madrid. Los

Merengues again toured the USA in preseason, attracting
record crowds. The club also signed James Rodriguez
and World Cup winner Toni Kroos to add to an already
talent-stacked squad worthy of any Hollywood
blockbuster. This enhances the mouth-watering
proposition of history and star players that sponsors crave
– Emirates has agreed to pay €30m a season to put its
name on the famous white shirt.

This commercial clout means Real still has the largest

revenues in football (€550m) and the highest broadcasting
revenues (€204m), however this top position will not last
for long. The new Premier League broadcasting rights
deal is set to catapult English teams high up into the
revenue generating stratosphere. Real may still have the
advantage of history and the pulling power on the top
stars, but with limited scope for rapid growth it may be an
uphill struggle to hold its position in future editions of the
Brand Finance Football 50.

20. Brand Finance Football 50 June 2015

 4 Manchester City FC
Brand Value It is testament to how far the brand has come that
commentators speak about a season where Manchester
$800M City doesn’t win a trophy as a “failure” or a
Brand Rating “disappointment”. The financial reality couldn’t be more
far removed.
AAA-
Manchester City’s rise has been fuelled by a rapidly
growing fan base. One report has suggested that its fan
base has grown by a staggering 523% in recent years, in
comparison, the same report also suggested that
Manchester United’s fan base fell by 19% over the same
period.

Shirt Sponsor Kit Manufacturer It is now the flagship brand in the group of clubs which
Annual Value Annual Value form the City Football Group. This international, multi-club
$11.7M $19M structure allows the City brand to be leveraged across the
globe whilst simultaneously benefiting from synergies
through association with its regional partners. As a result
City now has a diverse portfolio of partnerships ranging
from Nissan in Japan to Etisalat in the UAE.

The club’s plans to expand its stadium capacity by a

further 10,000 seats will provide a healthy boost to
match-day income in future (an area in which City lags
behind its rivals) allowing the brand to accommodate its
growing fan base whilst increasing its appeal to new
commercial partners.

That being said, the club’s performance this season will

be a cause for concern amongst some stakeholders not
least the fans. The brand’s rapid rise relies upon continual
success and many will be unhappy with the way Chelsea
seemed to win league with relative ease. City’s ageing
squad earning well-publicized large salaries must also be
considered, with many believing an overhaul is required
to revitalise the brand’s on-pitch performance.

The brand is likely to see a busy summer period with

many existing personnel on the move and this could play
a decisive role in the coming season’s performance.
There will undoubtedly be an expectation that City makes
more of a title challenge next year, and perhaps more
importantly, that it makes further inroads into European
competition.

Brand Finance Football 50 June 2015 21.


Top Ten Profiles
5 Chelsea FC
Jose Mourinho’s second season in charge since his return
Brand Value to Chelsea has undoubtedly been far better than the first. To
$795M strengthen the team’s attacking prowess, which was
arguably one of its few weaknesses last year, Chelsea
Brand Rating secured the high profile transfers of Diego Costa, Loïc
AAA Remy and Cesc Fàbregas. These transfers turned out to be
critical as Costa and Fàbregas proved instrumental in
Chelsea’s 14/15 campaign. After winning the League Cup in
March, Chelsea secured the Premier League title three
weeks before the season concluded, and, when it did,
Chelsea had been in pole position for 274 days.

Chelsea’s stellar performance in domestic competitions

Shirt Sponsor Kit Manufacturer combined with the Premier League’s extremely lucrative
From 2015/16 Annual Value broadcasting deal has resulted in a brand value growth of
Annual Value $32M an incredible £293m (58%). This growth has propelled
Chelsea to a record fifth place finish in the Football 50 this
$60M
year, meaning the west London club has overtaken Arsenal
and Manchester City. However, European success
continues to elude Mourinho at Chelsea. The Portuguese
manager has never reached a Champions League final with
the Blues, let alone won it. This year was no exception as
Mourinho’s Chelsea left the European stage in the round of
16, after conceding a bitter PSG goal from former team
mate, David Luiz.

Japanese tyre manufacturer, Yokohama, has become the

team’s new shirt sponsor, ending Chelsea’s 10 year
partnership with Samsung. In that time Samsung’s logo has
prominently featured on numerous podiums and victory
parades for what can only be considered a bargain £20m a
year, in what is becoming a highly competitive sponsorship
market. Chelsea’s new deal with Yokohama is believed to
be worth over £40m a year which makes it the second most
valuable sponsorship deal of its kind, surpassed only by last
season’s record breaking £53m a year deal between
Chevrolet and Manchester United.

Shrewd transfers and record commercial deals have put

Chelsea in very good shape, both commercially and on the
pitch. The team’s domestic dominance has resulted in
remarkable growth, but European trophies are still crucial to
increase international exposure and commercial worth,
which may allow Chelsea to take a swipe at the top three.

22. Brand Finance Football 50 June 2015

 6 FC Barcelona
Despite rumours of a rift between players and the
Brand Value manager, Luis Enriques’s first season in charge of the
$773M Catalans has been an overwhelming success. In addition
to a comprehensive win over Juventus in the 2015
Brand Rating Champions League final, Barcelona has secured its 26th
AAA+ La Liga title and 27th Copa del Rey title to become the
first team in history to win the treble twice.

Thanks to this clutch of honours, Barcelona has

overtaken Real Madrid to become the world’s most
powerful brand, with the highest Brand Strength Index
score of any club and a corresponding, unbeatable
AAA+ brand rating. Brand value is up 24% to $773
Shirt Sponsor Kit Manufacturer million. $28 million of that has been added thanks to
Annual Value Annual Value Champions League final victory alone.
$45M $43M
While Barcelona may have had the upper hand this
season on its rivals on the pitch, it has none the less fallen
down the rankings of the Brand Finance Football 50.
Manchester City and Chelsea have both overtaken Barca
thanks to expansionary brand strategy, new sponsorship
deals and the forthcoming broadcasting windfall. In terms
of domestic rivalry, Real Madrid continues to leverage its
brand in a more profitable manner. Both brands achieve
similar Brand Strength Index scores, but Real Madrid’s
brand value is $100 million higher than that of Barcelona.

With the two brands generating similar match day

revenue, we can trace the difference in brand value back
to Real Madrid’s success in converting brand strength to
greater revenues in both broadcasting and commercial
streams. Despite this, it is important to recognise that this
year’s Football 50 shows progress for Barcelona, as
brand value increased 24% in contrast to Real Madrid’s
increase of 14%. To continue to close the gap Barcelona
will need to work hard to improve its ability to leverage its
powerful brand to stand any chance of making financial
performance match up to on-pitch success.

Brand Finance Football 50 June 2015 23.


Top Ten Profiles
7 Arsenal FC
As is ever the case with Arsenal, the season has had its
Brand Value fair share of drama. The summer saw the signing of
$703M Chilean Alexis Sanchez, who undoubtedly adds extra
marketability to the squad. However, Arsenal sat sixth by
Brand Rating Christmas with fans baying for the blood of the manager.
AAA This was soon followed by a dramatic turnaround in form
which culminated in a third placed finish, a ten year joint
high for the Gunners, and an FA cup to boot.

So far so good, but, CEO Ivan Gazidiz had claimed that

after 2014 and the negotiations of new deals, the club’s
new financial firepower would make it one of the top five
in the world by revenue. This reality has not materialised.
Shirt Sponsor Kit Manufacturer Arsenal remains eighth in the world in terms of revenue
Annual Value Annual Value and with the key kit sponsor and supplier deals
$46.7M $49.5M accounted for, it is hard to see any further dramatic
improvements in the near term.

All of this makes reaching a conclusion regarding the

Arsenal brand very difficult.

The squad is now arguably the best in the league and

undoubtedly has the potential to win any and every
trophy next year. It has a fine stadium and the brand
benefits from an affluent fan base that not only tolerates
some of the highest ticket prices in the country, but a
sustainable model which eschews jam today for the
promise of tomorrow.

On the other hand, having finally gained the freedom to

negotiate new commercial deals, the brand is still
nowhere near its more successful rivals in financial terms.
Whilst the incoming Premier and Champions League
revenues will provide additional economic benefits, this
will also be felt by Arsenal’s closest rivals, making the
most competitive league in the world all the more
competitive.

Time will tell whether or not the incremental

improvements this year will translate into a tangible long
term gain. However, for now it is difficult not to feel like
these results are to be endured rather than applauded by
the brands stakeholders who will no doubt be looking to
next season for their long awaited jam.

24. Brand Finance Football 50 June 2015

 8 Liverpool FC
Following a fairly muted sequel to its title-challenging
Brand Value 2013/14 season, perhaps the most notable moment of
$577M the previous campaign was the departure of longstanding
club captain and local hero Steven Gerrard. Brendan
Brand Rating Rogers’ side finished 6th overall, scraping into the Europa
AAA- League by default and after long periods of lacklustre
performances, finished the season on a particularly sour
note with a 6 - 1 drubbing away at Stoke. Having lost Luis
Suarez to Barcelona and Daniel Sturridge to injury for
most of the season, Liverpool struggled to find its free-
scoring identity that brought it success over the previous
season, scoring just over half of the 2013/14 goal tally.

Shirt Sponsor Kit Manufacturer The strong core of the club’s brand remains intact
Annual Value From 2015/16 however. Its rich heritage and fervent fan-base make it
$31M Annual Value one of the most recognisable brands in football.
Commercially, Liverpool is clearly still able to attract top
$40M
investment, signing an extension to its £25 million a year
kit deal with Warrior parent company New Balance, as
well as benefitting from the premier league’s £5bn
broadcasting deal. There are also signs that Liverpool’s
business model is beginning to bear fruit, with the club
announcing its first annual profit of 0.9m in March for the
year ending 31 May 2014.

Undoubtedly its owners have big plans for the club and
Liverpool’s business model hinges on Premier League
success. Whether the club realises these visions depends
on Brendan Rodgers’ transfer market performance this
summer. Having already proven that with the right team
Liverpool can be a title contender, the latest additions to
the squad have fallen short of expectations. The club may
rank as a top 10 global brand, yet remains outside the top
four in England. The recent rise of Man City has broken
the established hegemony of the traditional top 4 at
predominantly Liverpool’s expense. Without the certainty
of regular Champions League football, a transfer budget
deficit will become increasingly unsustainable and, whilst
we can look to The Reds having all the resources its
owners can spare for the next transfer window, stiff
competition for Champions League places may just leave
Liverpool walking alone.

Brand Finance Football 50 June 2015 25.


Top Ten Profiles
9 Paris Saint-Germain FC
Brand Value The team from Paris have combined another strong
season on the pitch with commercial success off it that
$541M has enabled the club to increase in brand value by 67%
Brand Rating to $541m making Paris Saint-Germain the 9th most
valuable football brand in the world and the only French
AAA- team in the top 10.

The French champions failed once again to progress

beyond the quarter finals of the Champions League.
However, the team did manage a clean sweep in France,
winning all four of the domestic cups; the Ligue 1 title, the
Coupe de France, the Coupe de la Ligue and the Trophée
des Champions. This dominance over French football
Shirt Sponsor Kit Manufacturer gives PSG an almost automatic route into the Champions
Annual Value Annual Value League competition every year, making the brand an
$32.6M $8.8M attractive proposition for both new and existing sponsors.

PSG increased in brand value across all three revenue

streams. The contribution to brand value from
broadcasting increased by 14% with match-day brand
value increasing by 57%, however the commercial stream
made the biggest contribution. PSG was able to translate
higher commercial revenues into an additional US$ 182m
of brand value. The costs remain a concern with
Financial Fair Play (FFP) restricting PSG’s ability to spend
big. President Nasser Al-Khelaifi believes that FFP is the
only thing holding the club back from acquiring the likes
of Barcelona’s Lionel Messi and Real Madrid’s Cristiano
Ronaldo.

PSG’s hard work on and off the pitch is benefitting not

just the club itself but Ligue 1 as a whole. The French
champions have brought global superstars to the
league, from Edinson Cavani and Zlatan Ibrahimovic to
Thiago Silva and David Beckham. Wherever superstars
go, supporters will follow, with sponsors and
broadcasters close behind. PSG cannot shoulder the
entire burden of raising Ligue 1’s profile however.
Therefore, although the rise of AS Monaco may be
perceived as a threat, PSG should welcome the
competition as it will go a long way to improving the
financial fortunes of both clubs and Ligue 1.

26. Brand Finance Football 50 June 2015

 10 Tottenham Hotspur FC
Another year, another 5th place Premier League finish for
Brand Value Tottenham Hotspur, which despite significant improvement
$360M in league performance over the last decade remains just
outside the promised land of Champions League
Brand Rating qualification. The challenge of balancing Europa League
AA+ commitments with chasing that elusive top 4 place has
meant maintaining a relatively large squad. There is a
reasonable level of salary control discipline (leaving
Emmanuel Adebayor to one side), but the general view of
observers and fans alike is that much of the club’s transfer
spending on players has been unwise, and integration of
players brought in with the Gareth Bale windfall has been
difficult.
Shirt Sponsor Kit Manufacturer
Annual Value Annual Value Financially however, the overall player strategy seems to
$24.9M $16.1M have been more successful. This year has seen the
breakthrough of several home grown players, including
England international Harry Kane, who will add to the
book value of the squad. The club has the highest brand
value of those not habitually in the Champions League.
Brand value has grown by around 45%, albeit mainly due
to the increase in overall Premier League broadcast
revenues. Commercial revenues are static.

The real key to the club’s future lies with the stadium.
Tottenham has for years been limited by the capacity of
White Hart Lane, inadequate for its strong supporter base,
and with the cramped and antiquated nature of the
ground holding back the ancillary match day revenues.
However, after years of wrangling, planning permission
and land acquisition for the much vaunted 56,000-seater
stadium has finally been granted and this, along with a
state of the art training ground already in place, means
that Spurs could be poised to increase its brand value
significantly when the ground opens in 2018/19. Increased
match-day revenue flows and stadium sponsorship rights
should strengthen the already robust financial position.
The move is a statement of ambition that should aid
signing and, crucially, retention of two or three top class
players.

Until then, the most probable prognosis is more of the

same – glorious failure to displace the current top 4 and
domestic cups as the only chance of silverware.

Brand Finance Football 50 June 2015 27.

Football in the Middle East
GCC FC – Gulf States and World Football
The Arabian Gulf states’ changing relationship with Manchester City FC and its subsequent expansion into
world football has received a great deal of publicity Australia (Melbourne City FC), the USA (New York City
in recent times, and the trend shows no sign of FC) and Japan (Yokohama F. Marinos) – together with
slowing down. If anything it is intensifying as the the concurrent sponsorship deals with Etihad and other
interests of football brands in building brand value Abu Dhabi-based companies, has been widely
and commercial opportunity align with the global discussed.
ambitions of strong Gulf companies and the nation
brands that sit behind them. Indeed, such has been the investment in sponsorship
and ownership by Gulf interests that 5 out of the top 10
Qatar, with its much-discussed FIFA World Cup 2022 Brand Finance Football 50 clubs have shirt sponsorship
award, its acquisition of Paris Saint-Germain, and Qatar deals with Gulf Airlines, and 2 of the top 5 clubs’ stadia
Airways’ high-profile sponsorship of Barcelona, has are named after them. The investments by Abu Dhabi
attracted much attention. and Qatar in Manchester City FC and PSG respectively
represent 18% of the total value of the top 10 clubs in
At the same time the UAE is constantly in the news for Brand Finance’s Football 50.
Emirates Airline’s sponsorship of several top teams, as
well as being the official worldwide partner of FIFA, the In addition, in late-2014, IPIC, an Abu Dhabi investment
sport’s governing body. Abu Dhabi’s investment in fund, announced a long-term strategic partnership with

28. Brand Finance Football 50 June 2015

Real Madrid with the stated objective of globalizing Real excitement and success, all ingredients that the best
Madrid’s assets. Included will be redevelopment of the European clubs have built up over time.
famed Bernabeu stadium (supposedly with Abu Dhabi
in the naming), a number of Real Madrid Schools of Undoubtedly this considerable support for football on a
Football being established in Abu Dhabi and other local and global scale is driven by a passion for the
global locations, and the development of Real Madrid game, which runs deep in the region, but there is more
museums in key cities around the world. Dubai is to it than emotion.
already host to a Real Madrid café, and it is rumoured
that a Real Madrid theme park is being planned in Abu Fundamentally, the leaders of the Gulf nations have
Dhabi. The National Bank of Abu Dhabi is also the recognized the need to diversify and grow their
club’s official banking partner. economies and are investing heavily to achieve this –
establishing their countries as global banking, trading
The appeal of linking with the biggest clubs in the world and transport hubs, developing industrial and technical
is obvious, given the global reach and depth of interest capabilities and growing their tourism industries.
that football generates the world over. But a noticeable
feature of more recent investments is that they are no And in doing so they have recognized that the global
longer limited to the Top 10. For example, Qatar’s appeal of football is an ideal vehicle to publicise and
Aspire Zone acquired KAS Eupen, a second division promote their nation brands, and their key global
club in Belgium, with the aim of leveraging the club as a businesses, on a world stage, which is critical to the
launch pad for talented young players identified by the success of their diversification strategy. The rise of the
Aspire Academy in Qatar and 14 developing countries Gulf nations has been clearly charted in Brand Finances
across 3 continents. Kuwaiti interests have acquired Nation brand studies, which have seen the value of the
Nottingham Forest, Sheffield United is owned by Saudi UAE brand rise from $249 billion to $293 billion, Saudi
Arabian investors, Getafe Madrid is owned by Dubai from $420 billion to $463 billion and Qatar from $184
and Malaga is owned by Qatari investors. billion to $256 billion in the last year, Qatar’s being the
fastest growth of any nation brand.
And whilst the international investments attract global
attention, the leadership of the Gulf states is now placing Perhaps the clearest example of this use of football to
a strong emphasis on growing football at home. This is build a nation brand is Abu Dhabi’s Manchester City FC
seen in the development of licensed football schools and investment, which has given Abu Dhabi rapid global
academies in the region (Real Madrid, MCFC, awareness and has provided Etihad (owned by Abu
Manchester United) as well as a keen interest in national Dhabi) a global platform to expose and promote its
teams and local and regional leagues. This is an brand to a receptive audience. Other Abu Dhabi brands
essential strategy to avoid the problem, often discussed, such as Etisalat and Aabar have also benefitted from
of global football brand interest potentially dampening the international exposure.
growth in the domestic game. It must be remembered
that by comparison with European leagues, the national Abu Dhabi is extending the Manchester City formula to
and individual clubs in the Gulf are relatively new arrivals Australia, the USA and Japan, leveraging the integrated
and still in the process of creating their legacy and approach of football, branding, marketing and
legend. Whilst grassroots fans in the region do follow commercial development of the clubs in the City family
international clubs, they are also fiercely loyal to their – exposing both the nation brand and Etihad to
local clubs, and it is crucial for the long term value of the countries not traditionally considered strong football
game in the Gulf that this aspect is nurtured. A good markets, but with growing fan interest, markets in which
example is Al Ain FC in UAE, which is making great Abu Dhabi and Etihad need to promote themselves for
strides to build a club that represents community, history, commercial reasons.

Brand Finance Football 50 June 2015 29.

Football in the Middle East
GCC FC – Gulf States and World Football
The outcome is that the 55,000-seater stadium in
Melbourne (one of the biggest sporting cities in the
world) is now the Etihad Stadium - and Etihad is the
shirt sponsor of Melbourne City FC.

Etihad is also expected to announce a shirt sponsorship

deal with NYCFC, and has already become the official
airline partner of the US Major League Soccer.

Hosting of prestigious tournaments plays an important

role. In addition to Qatar hosting the FIFA World Cup
2022, the UAE will host the 2019 AFC Asian Cup, as
well as the 2017 and 2018 FIFA Club World Cups,
having hosted the 2003 FIFA World Youth
Championship, the 2009 and 2010 FIFA Club World
Cup, as well as the 2013 FIFA Under 17 World Cup.
These tournaments have several effects, not least the
familiarisation of the world’s top young players with the
Gulf football scene and the raising of the bar and the
aspirations of local home grown talent.

All of this activity, however, comes at significant financial

cost, which is why it is critical for investors and
sponsors, as well as the clubs themselves, to
continually manage and measure their financial
exposure against the benefit gained from the
relationship. With growing competition between
different European football brands for global presence,
comes a requirement for Gulf state investors to work
out how to have a truly differentiated strategy that has
demonstrable payback. Mere association with a club is
valuable in the short term in terms of building
awareness, stature and positive association, but when
awareness is no longer a goal in itself, more
sophisticated ways to leverage these partnerships will
need to emerge, and picking the right partner from both
a brand fit and a strategic alignment perspective
become essential. We can anticipate continued high
levels of activity from the Gulf States in the world of
football, and a greater need to track how value is being
derived for sponsor and club alike.

30. Brand Finance Football 50 June 2015

Football in the Middle East
An In-Depth Look at Al Ain FC
We spoke in detail to Al Ain FC, AFC Champions
League winners and 12 time Arabian Gulf League
winners to discover how they are building a
regional football powerhouse and a brand that is
now worth well over $30 million.

The club clearly understands the importance of brand

as part of the healthy development of a club. Al Ain are
the first club in Asia to undergo our brand valuation
which speaks volume to their future ambitions in
directing their resources to growing their brand. The
Marketing department oversees the brands of Al Ain
Football Club, Al Ain Sports Game Club, the Hazza Bin
Zayed Stadium and its surrounding Mixed Use
Development, currently has a total of seven members
including two graphic designers, two social media
coordinators outsourced from a social media agency,
two marketing managers, and overseeing them, the
head of marketing. This is significant for a club of Al
Ain’s current size; many teams in the English
Championship clubs will only have two or three people
in their marketing teams for example. This in itself is
evidence of Al Ain’s ambitious growth plans and its
recognition of brand as a core asset.

This understanding has been particularly clear since

the Al Ain Club Investment Company assumed control
of Commercial, Marketing and Operations activities in
2013. The brand was revamped to coincide with the
launch of the Hazza Bin Zayed Stadium (voted 2014
‘Stadium of the Year’ by StadiumDB.com). A new
brand position as ‘the Home of UAE Football’ was
developed, a powerful message that elevates Al Ain to
a pre-eminent position domestically. It is more than an
empty boast however.

With a brand position that places Al Ain at the centre of

the country’s sporting life, social responsibility is a
must to sustain the credibility of the claim. An anti-
obesity week, cancer awareness and a recent
partnership with insurance company Daman to
promote healthy lifestyles fall under the ‘Health’ pillar
of its CSR (Corporate Social Responsibility) program.
A host of green initiatives cover ‘Environment’. The
third and final pillar is ‘Education’. A partnership with

Brand Finance Football 50 June 2015 31.

Football in the Middle East
An In-Depth Look at Al Ain FC
the Ministry of Education will be established to publish
a series of books. Engaging with fans and the wider
community secures the club’s reputation and supports
its brand positioning, but it is more than a hygiene
factor.

CSR activities are helping to draw fans in and boost

revenues more directly. Unlike in more established
footballing cultures, on pitch performance has a
significant impact on short term attendance and
engagement with a team and a poor start to a season
can affect attendances throughout the run in. Nassar
points to spikes in fan interest and engagement with
the club when key players take part in CSR projects.
Clearly many fickle fans can be drawn in even if
performance on the pitch is less than perfect.

A new mascot will soon become the ambassador of

the club’s CSR program. Merchandise and a planned
series of books based on the character will generate
revenue in the short run. Longer term, the mascot will
build brand loyalty among young football fans, helping
to develop a solid base of support that will stick with
the club through thick and thin and a culture more akin
to that of established European and South American
teams. A recent family festival on the clubs five-aside
pitches is another step in this direction.
Al Ain already has the highest average attendance in
This sort of activity will be crucial in convincing people the UAE and the third highest in the GCC, but in the
that their local club and domestic football are worth coming months the marketing team will be centring
being passionate about. European football brands can their efforts on boosting numbers further, building hype
have a stifling effect on the development of those in for the new season before it starts, involving the
the Middle East (and many other regions). When the players early on to generate pre-season ticket and
Middle East’s local fans can watch the best quality of merchandise sales. They plan to use the momentum
football on television in air conditioned homes, from last season, when Al Ain secured a record 12th
convincing them to attend their local club’s matches in league title.
a hot stadium can be a hard sell. Countries with
smaller populations and a large proportion of Looking further ahead, Al Ain’s plans are as ambitious
expatriates, such as the UAE, can find the situation as they are diverse. An interactive football museum,
particularly challenging. To counteract this, campaigns the first of its kind in the region, and the first Al Ain
are produced in English as well as Arabic, with Café will follow the highly acclaimed Al Ain Megastore
increasing signs of success. Ex pat number at Al Ain and provide an immediate source of revenue
home matches, especially on AFC Champions League generation as well as a new way for fans and
nights, are rising. consumers to engage with the brand.

32. Brand Finance Football 50 June 2015

Even with the brand’s domestic strength still being
solidified, international plans are afoot. Commercial
partnerships with Etihad Airways and the Abu Dhabi
Airports Company, not to mention the ‘Home of UAE
Football’ positioning, give Al Ain the upper hand over
the other UAE football clubs in attracting tourists and
curious international fans looking to catch a game or
the Arabian football experience. Global travel agencies
and Abu Dhabi’s Tourism and Cultural Authority will
help to raise the brand’s profile outside the UAE. So
too will the annual Hazza Bin Zayed Under 17
tournament featuring the youth teams of top clubs
from across the Middle East, Africa, Asia and Europe.

Al Ain has the best track record of any club in the UAE
and the only one to have won the AFC Champions
League, with its new brand positioning and a string of
powerful partnerships its position at home is looking
increasingly secure. However on the international
stage, whether competing with foreign leagues for
domestic audiences or increasing interest in the club
outside the UAE, the challenge is much bigger. Rather
than despairing though, the club sees the silver lining,
“European clubs can offer us opportunities to learn
from their vast experiences in developing their
respective brands and maintaining a loyal and growing
fan base.” Al Ain is one of the few clubs in the Middle
East to have established strategic partnerships with
European football clubs, including Atletico Madrid and
Eintracht Frankfurt. In designing its CSR platform, the
club researched all of the top football club brands and
leagues in the world, as well as the National Basketball
Association (NBA), tweaking the insights with local
knowledge and plans to do the same as it develops its
ROI metrics, with the help of Brand Finance.

Al Ain is having to act as a trailblazer not just for its own

brand but for Middle Eastern football as a whole. Its
optimistic attitude, ambition and recognition of brand as
fundamental to financial performance (and thus
ultimately sporting success) is heartening. Brand Value
is growing rapidly and though still some way off reaching
the giddy heights of the Brand Finance Football 50, Al
Ain is one of a select group of non-European clubs that
stand a chance of entering the list in the coming years.

Brand Finance Football 50 June 2015 33.

Sponsorship
History, Highlights and Howlers
Brand Finance examines the most successful live at events that involve and engage target audiences
sponsorship deals over the last few years and those to develop a genuine emotional connection.
which have perhaps not delivered on the brand
owner’s objectives. Activation is no silver bullet however. Finding the right
audience to deliver ROI is also key. Brand Finance
Assessing the benefits of a sponsorship deal from the research suggests a high awareness of the relationship,
outside looking in is challenging as often only the but with limited impact on trial, consideration or
headline terms are disclosed, internal brand and purchase. Perhaps it was a stretch too far for Anheuser-
campaign measures are not available and sponsorship Busch to hope to change the preferences of UK drinkers
objectives, which may vary greatly, are not divulged. But who stick loyally to more established European brands
Brand Finance will attempt to do just this based on our or reject mass-market lagers in favour of craft beer and
own observations and experience with the brand owners real ale. Consequently, the FA cup sponsorship deal will
we work with. not be renewed. However, Budweiser will continue to be
a FIFA world cup sponsor for 2018 and 2022, enabling
Sponsorship has evolved significantly since the days of the brand to reach consumers in high growth East Asian
cigarette cards and local tyre companies sponsoring markets who may be easier to target.
shirts in volume and level of sophistication. Furthermore,
as marketers have woken up to the benefits of Heineken has suffered from a different problem. It is
association with much-loved sports brands the cost of another brand with a track record of pioneering use of
sponsorship rights has increased exponentially. social media to activate its sponsorships. However,
Brand Finance suggests that despite being an official
Creating awareness in new markets has been and sponsor of the Champions League since 2005, at an
remains the most common objective for sponsorship annual cost of $70 million, most consumers fail to identify
investment. In the 1980s and 1990s Japanese a specific connection between Heineken and football.
electronics brands such as JVC, Canon and Sharp were
dominant, the trend having started with Hitchi in 1979. In Heineken’s challenge is one of brand dilution both as a
the following decade tech companies from around the result of the number of co-sponsors of the Champions
world followed, in addition to a plethora of new sports League it must share billing with (Gazprom, HTC,
betting sites. More recently, Middle Eastern and Asian MasterCard, Nissan, Sony PlayStation, UniCredit and
brands, in particular airlines, have risen to prominence as Adidas), but also the number of other brands in the beer
they seek a foothold in new territories. / alcoholic beverages category involved in sponsorship.
Budweiser has already been mentioned, but others
However, increasing awareness is by no means the only include Budweiser, Carling, Corona and Brahma.
motivation. Yokohama’s £40 million per annum, five year
shirt sponsorship deal with Chelsea is designed not just Success Stories include insurance giant Allianz. Its focus
to increase awareness in Europe, but also to enhance on stadium naming rights has been shrewd. There is a
the brand’s positioning in Asian growth markets where it greater air of permanence to such deals compared to
is already well known. shirt sponsorship, fostering a deeper relationship with
fans. Its association with Bayern Munich is well known
It is important that sponsors do more than adopt a and its name is clearly displayed across Germany’s best
passive ‘build it and they will come’ approach. Anheuser- known stadium, the innovative Allianz Arena (home of
Busch has been particularly effective in this regard. Its £9 both Bayern and 1860 München) following a 30 year
million a year deal to position Budweiser as the deal that began in 2005. Nice’s Allianz Parque, the
sponsorship of the FA Cup has been activated through a Allianz Riviera (São Paulo) and the Allianz Stadium in
range of ongoing brand initiatives in social media and Sydney form part of an international network.

34. Brand Finance Football 50 June 2015

 When Emirates’ ground-breaking, £100 million, 15 year
deal to name Arsenal’s new stadium was signed in
2004, it seemed expensive. With the benefit of hindsight
the deal, which included eight years of shirt
sponsorship, has clearly been a terrific investment.

The success of the Arsenal sponsorship convinced

Emirates to extend its sponsorship program to include
AC Milan, Hamburger SV, Real Madrid and Olympiacos.
Emirates is now one of the most-well known and
regarded airline brands in the world, with a deeper and
more extensive relationship with football than more or
less any other brand. Emirates’ brand building
investment, with sponsorship at its centre, is clearly
paying off. Revenues have risen from $3.5 billion in
2004 to $22 billion in 2014 (an increase of over 50%)
while the airline’s load factor increased from 73% to
79% over the same period.

As the saying goes, mimicry is the highest form of

flattery. Other airlines, envious of Emirates’ success
have followed suit with significant investments in
football sponsorship including Qatar Airlines
(Barcelona) and Delta (Chelsea). Etihad’s £40 million
annual sponsorship of Manchester City underlines the
value of Emirates’ pioneering deal with Arsenal.

Sponsorships have the potential to go badly wrong of

course. Wonga.com’s sponsorship of Newcastle, signed
in 2012 for an estimated £8 million a year over four years,
being a prime example. Wonga certainly achieved greater
awareness as a result of the deal. Unfortunately, it merely
served to enhance the firm’s notoriety and reputation for
profiting from the unfortunate and financially illiterate. The
fact that Wonga’s logo has been removed from children’s
kits put it in the same bracket as pariahs from the tobacco
industry, prompting even more consumers to avoid the
brand. In 2013, profits fell by 53% and the brand has
lately been forced to transform its image, portraying itself
as a responsible lender, supporting hardworking families.

The fallout extended to Newcastle FC’s brand too.

Top, Emirates’ exemplary partnership with Arsenal. Supporters and the general public were outraged that the
Middle, Champions League sponsors fail to stand out. club would associate itself with such an inappropriate
Bottom, Allianz Arena brand. Even some of the players were scandalised, with

Brand Finance Football 50 June 2015 35.

Sponsorship
History, Highlights and Howlers
Muslim striker Papiss Cisse refusing to wear kit bearing • Strong, innovative activation will help maximise returns
the Wonga logo on religious an ethical grounds. This on the sponsorship investment though engagement
profit at any cost approach reflected badly on the club’s with target customers and reduce the chance that the
already unpopular owner, Mike Ashely. He has lost the sponsorship will be perceived as ‘hollow’ and no
trust of loyal supporters who are increasingly voting with different from advertising.
their wallets. In its present state it is very difficult indeed to
foresee the club retaining current levels of support • The rights holder and sponsor must work closely
indefinitely, let alone attracting new followers. together in partnership to maximise the benefit of the
investment for both brands.
To add to the misery of both club and sponsor, when
Newcastle’s 2015/16 season kit was unveiled it featured • Short-term deals (two years or less) where the
Wonga’s old logo, an unpleasant reminder of the period sponsor has changed regularly dilutes effectiveness
Wonga was hoping to leave behind and an indication of as consumers confuse or easily forget current and
poor communication from both sides. past sponsors while creating a perceived lack of
commitment to the relationship with the rights holder.
There are many factors which help drive effective
sponsorship investment and limit the chances of failure to • Competition for the best rights is ever increasing,
generate adequate returns, in the opinion of Brand pushing up the value of the rights hence locking in a
Finance the key factors are: longer deal is likely to generate greater returns over
the duration of the agreement.
• A clear, measurable objective that underpins all
aspects of the sponsorship programme from partner • A high level of due diligence is required to minimise
selection to tactical activation activities. the risk of failing to meet objectives. Financial stability,
pending litigation, disputes with previous sponsors
• Good brand fit between rights holder and sponsor, and partners and compliance with all relevant
with consistent values, will ensure the sponsorship regulations are areas that should be of particular
program is credible, on message and delivers on concern.
customer expectations.
• While it is certainly possible to measure returns on
sponsorship investment after the event, it is far more
cost effective and accurate to put in place a robust
measurement system prior to activating the
sponsorship program with additional benefit of
indicating early when objectives are not being met so
that steps can be taken to address.

Much can go wrong with sponsorship but when executed

well it can be one of the most effective brand building
tools in the marketer’s box. In an age where many
consumers are selective in their media consumption,
hard to reach via both traditional and digital channels and
increasingly apathetic towards brands, sponsorship
remains a bastion where brand owners can emotionally
connect with target customers.
(l) Newcastle’s 2015/16 kit with old Wonga logo,
(r) how it should have looked

36. Brand Finance Football 50 June 2015

Sponsorship
Foul Play at FIFA
VISA, McDonalds, Coca-Cola, Hyundai, Budweiser FIFA itself, but the sponsors too. With FIFA apparently
and Adidas are among the major companies that have deaf to calls for change, activists and social media users
set out to build their brands through association with are turning their fire on the top tier sponsors, accelerating
international football, the World Cup and the now the reputational risk.
embattled organisation that oversees it, FIFA.
FIFA’s own brand is in the most imminent danger of all,
being heavily contingent upon the support of its partners
and sponsors. It is down to $2.8 billion, having lost $400
million in the last few days alone as the result of the
arrests and subsequent negative attention. Even
broadcast revenues could be under threat as the
possibility of relocation of World Cups in Russia and
Qatar creates significant uncertainty. A boycott of FIFA by
national football authorities has even been mooted, which
would lead to the collapse of FIFA’s $12 billion franchise.

Brand Finance CEO David Haigh has expressed his views

in robust terms, “Sponsors have partnered with FIFA in
order to build their brands, not have their reputations
tarnished. The kind of activities that are alleged to have
For a fee now in the region of $24-$44 million a year, the been going on could destroy billions of dollars of brand
sponsors have guaranteed exposure to a global audience value. Blatter’s resignation may finally herald the change
well in excess of a billion consumers and association with that is so desperately needed, but the problem goes
the world’s most loved sporting event. much deeper than Blatter himself and until a clean,
credible leader who is prepared to challenge many of
There has no doubt been a significantly positive effect on FIFA’s established figures, sponsors should be wary.
their brands over the years. Brand values for the top Without a thorough clean-out the Augean stables, my
sponsors currently total nearly $100 billion (Coca-Cola: recommendation to the likes of VISA, Coca-Cola and
$35.8 billion, McDonalds: $22 billion, Hyundai motors: McDonalds would be to move towards the exit.”
$8.6 billion, Kia: $5.2 billion, VISA: $8.5 billion, Gazprom:
$7 billion, Adidas: $6.8 billion, Budweiser: $4.3 billion).

These billion dollar valuations refer specifically to the

value of brand rather than the business entity, so
theoretically all of this value could be lost as it is
intangible and contingent upon reputation and continuing
consumer goodwill. That goodwill is ebbing away and
only a comprehensive overhaul of the governance of the
organisation is likely to reverse it.

Accusations of endemic corruption within FIFA are

becoming not just widespread, but impossible to ignore.
The sands are rapidly shifting, making any kind of
association with FIFA increasingly risky for a brand’s
reputation. Negative headlines now surround not just

Brand Finance Football 50 June 2015 37.

Club Interviews
City Football Group
Manchester City may have conceded its status as
the Premier League’s number one club after losing
the title to Chelsea (who also picked up the 2015
League Cup). Yet despite the two clubs being at
near-parity in brand value terms last year, Man City
has managed to remain ahead, improving its
position in our rankings from 5th to 4th. This is
largely down to the innovative approach it has taken
to its brand, on the one hand creating an award-
winning matchday experience to build loyalty and
on the other extending the brand to a network of
clubs across the world. We spoke to Alison
Canning, CMO to City Football Group, to find out
more.

How many people do you have working in your

marketing/ brand team?

We have a very small brand team at the centre –

basically a Brand Guardian (the Chief Marketing
Officer) with an agency and in-house designer in
support – plus Marketing professionals in each of our
Clubs. In addition, we’ve appointed Brand
Representatives throughout the wider business
(communications, HR, partnerships, digital, media,
football, etc.) to ensure that all decisions and actions
reflect and reinforce our brand. These people are
supported by a Central Brand Library which contains
materials to guide our ‘look and feel’.

The brand is also embedded in our Performance

Development Review system via the culture and values
we champion and reward. New employees (and
commercial partners) are always introduced to the
brand during their initial induction sessions.

Do you benchmark your brand value in any way?

We’ve started to measure the brand value of each

majority-owned Club using studies conducted by
Brand Finance. The first Melbourne City FC valuation is
now complete, Manchester City FC is work-in-progress
and New York City FC will be undertaken at the end of
its first season (October 2015). Brand Finance will
repeat these surveys annually so that brand growth

38. Brand Finance Football 50 June 2015

can be tracked over time and also derive a brand value success. For brands seeking awareness or visibility, we
for the group as a whole, so that the ‘halo effect’ of the always aim to provide a 3:1 return on investment,
parent (City Football) can be assessed. based on the tangible media value of the assets
acquired (i.e. an advertising equivalent value calculated
Do you have a documented set of brand guidelines/ by Repucom).
values?
How do you balance the dual role of fans as both
We’ve created a Brand Book for City Football Group customers from whom you must make money and
(CFG) detailing all elements of the brand framework supporters/brand ambassadors?
– vision, mission, values, essence, personality,
positioning, identity, etc. – as well providing style With much care and attention – our fans (and players)
guidelines for various applications. We’ve also are our greatest assets!
developed a Brand Book for each Club.
We therefore aim:
The CFG brand architecture comprises two systems:
• To keep ticket prices as affordable as possible within
• A ‘monolithic’ system in which the group companies market constraints. For example, Manchester City
share a common identity (the Aura logo) and set of has always had the most affordable season tickets in
brand elements. Group companies are global the northwest of England (@ £299 p.a.) and with the
‘centres of excellence’, set up to drive best practice new expanded Etihad Stadium, we now offer even
across the Clubs. They include, for example, City more seats at this price. Our other clubs also offer
Football Services (which deals with scouting, competitive ticket prices compared to their markets.
human performance and talent development) and
City Football Marketing (which oversees partnership • To keep fans as close as possible to our Clubs. One
acquisition and activation). of our central brand pillars is ‘participation’ so, as far
as we’re able, we encourage fans to participate in
• An ‘endorsed’ brand system where each local Club key decisions about their Club – its name, identity,
develops its own identity (crest) and distinct matchday events, etc. – so they can ‘co-create’ the
positioning, but retains certain signature elements experience they want. This is done either directly
such as the ‘City’ name, primary colour (City Blue) through City Voice (our weekly fan forum) and
and brand values. This allows them to compete Cityzens (our global membership programme) or
effectively in their own market but still retain, and indirectly, through Supporters Clubs.
benefit from, a connection to the group.
How much impact can off-pitch activities have when
Do you have a unified return on investment (ROI) compared to the effect of on-pitch success on
metric that you use with all commercial partners/ brand?
sponsors?
Football has the huge advantage of having passionate
Our overriding aim when working with commercial fans as ‘consumers’ – whose loyalty often transcends
partners is to understand their business and brand winning or losing on the pitch. Our brand marketing
objectives and identify the role that CFG and its brands efforts are, therefore, largely aimed at attracting new
can play in supporting these. Having agreed the fans to our Clubs and encouraging them to move along
partnership goals, we then construct a bespoke the fan journey from ‘interested supporters’ to
programme to support and realise these goals, ‘engaged fans’.
measuring impact at regular intervals to monitor

Brand Finance Football 50 June 2015 39.

Club Interviews
City Football Group
Players are obviously crucial to your image, how do
you manage the risks that they may personally
damage the club’s brand?

We make every effort to ensure that all CFG employees

– including players, managers and coaches –
understand and commit to our brand values. These
include integrity, respect, teamwork and community,
and have been thoroughly integrated into our day-to-
day behaviours and decision-making. We are proud of
the fact that all of our teams reflect these values in their
conduct both on and off the pitch.

We also have one of the best communications teams in

football. These professionals are seamlessly aligned
with the brand team and fully prepared to pre-empt or
manage issues if they ever arise.

City has taken the innovative approach of not just

marketing a European club brand globally, but
extending the City brand to a network of clubs
worldwide. What was the motivation behind this
‘mono-brand’ approach?

CFG is committed to playing a consistent style of

football across each of its Clubs – in essence, a
technically-skilled, possession-based, forward-playing
game that we call ‘beautiful football’. The rationale for
this is two-fold: firstly, we believe that it delivers a more
attractive and exciting game for our fans; and secondly,
it allows City players to move easily between our
different Clubs.

So, for example, a young player graduating from the

City Football Academy in Manchester may start playing
professionally in Melbourne, move to the EPL in the
zenith of his career and then finish with a stint in New
York, before returning full circle to coach at one of our
Academies. The system, therefore, offers long-term
career opportunities for players.

We also regularly move staff around the world to

develop their careers and transfer skills and best
practice to other markets. We therefore need to ensure,
not only that the style of football we play is consistent,

40. Brand Finance Football 50 June 2015

but also that our values, culture and behaviours are world with a less-well developed footballing culture
shared by every member of our team. or does it stimulate it?

Have there been any significant challenges? Football is the world’s most popular sport and is
growing at an exponential rate in many developing
In branding terms, creating a new Club like NYCFC is markets. In our view, the global stature of the Premier
relatively straightforward. Incorporating an existing League, as well as iconic events such as the World
Club into the group, especially one with an established Cup, help to fuel this growth. As noted, the
history and fan base, is clearly more challenging. For connections made between fans in different markets
example, following the acquisition of Melbourne Heart, through the CFG group structure, is also helping to
and to assist its transition to Melbourne City, we raise the profile of, and support for, other leagues
undertook early and extensive stakeholder consultation round the world.
and communications and, based on feedback,
incorporated a number of important elements from the What do you view as key opportunities for further
Club’s past (including symbols and colours) into the brand growth?
new crest and Club platforms.
There are many ways to grow the City brand:
We also take care to ‘dial-up’ or ‘dial down’ the City
Football brand in appropriate ways. For example, New • In the football arena, via the acquisition of further
Yorkers want a Club of their own that is independent of Clubs or through consultancy services offered to
Manchester City. The parent brand, therefore, has a other leagues and Clubs in regions or markets
limited role in our current NYCFC marketing activity. On where we have no conflicting interests.
the contrary, Melbourne City’s association with a global
group is seen as a source of competitive advantage • In the fan arena, through the development of retail
and so the City Football brand is much more visible. and digital products or the provision of health and
fitness education based on City Football Academy
In what ways can the different clubs reinforce and methodologies.
support one another?
Overall, we believe that a strong brand is central to our
From a footballing and business perspective, the group business success and we will continue to invest in, and
companies (‘centres of excellence’) ensure that best expand, its equity and appeal.
practice is shared across the group. From a fan
perspective, the picture is slightly different. The
worldwide status of the EPL means that fans in many
markets already support an English club – which may
or may not be Manchester City. However, we’ve noticed
that fans of our smaller clubs – Melbourne and New
York – have started to support each other. This
reinforces the fact that fans are interested in other
Clubs and leagues around the world and that the
Group is helping to expand interest and involvement in
the global game.

Does the success of the Premier League globally

stifle interest in domestic football in parts of the

Brand Finance Football 50 June 2015 41.

Club Interviews
Southampton FC
Southampton is this year’s fastest growing football
club brand. Brand Value is up 89% to $183 million
thanks to a strategy that is paying dividends both
on and off the pitch. We spoke to Kate Tarry,
Southampton’s Marketing Director, to learn the
secrets of the Saints’ success.

How many people do you have working in your

marketing/ brand team?

We have a team of 14 across marketing, brand and

media; an increase of 6 from this time last year.

Do you have a documented set of brand guidelines/

values?

This was a priority when I joined a year ago.

Southampton Football Club has always been built on a
strong set of values that underpin ‘The Southampton
Way’, but they weren’t written down or articulated.
Working with staff across departments (many of whom
have been with the club a long time and are passionate
Saints fans) and with fans, we crafted five values that
guide everything we do and everything we aspire to be.
They are:

WE PLAY THE RIGHT WAY

We uphold the true values of the game, not just on the
pitch, but off it too. We are committed to supporting and
improving our community.

WE GROW TALENT
We have an illustrious history of turning potential into
excellence and a world-renowned youth academy.

WE’RE FORWARD THINKING

We will be successful tomorrow as well as today. We
spend our money wisely and invest sensibly in the future.

WE PUSH THE BOUNDARIES

We lead, not follow. We constantly innovate beyond the
expected in every aspect of our club and have invested
heavily in state of the art sports science and training
facilities.

42. Brand Finance Football 50 June 2015

WE NEVER STOP The pathway for young players to progress to first team
We constantly strive to be better in everything we do. football is clear. In any given week the best of our U21
Whatever the circumstances, whatever the pressure, we and U18 players will train with the first team and if they
never stop believing in who we are and how we do are good enough they can feature for the first team – five
things. We never stop moving forwards. academy players made their Premier League debuts this
season.
Born out of our five values is our brand positioning and
manifesto that articulates who we are and what we stand The perception of Southampton as a club that breeds the
for, giving us a way to express ourselves. We launched best talent has helped progress our brand massively. We
the manifesto and our strapline ‘We March On’ at the start are successfully competing with and winning against
of the 14/15 Season with a video to bring it to life. It was clubs that spend many times what we do, yet we do so
important to us that this wasn’t a marketing campaign, we with homegrown players such as James Ward-Prowse,
didn’t want to force this onto anyone, it needed to be Matt Targett and Harrison Reed.
natural and yet ownable by us – something no other club
could have done. Fans, players, staff, commercial Our ‘black box’ – a cinema room housed deep within the
partners and the media immediately picked it up and main training pavilion – offers bespoke software that
started using the language. And it’s continued throughout allows us to track players from across the world and
the season and will do for many years to come. compare their attributes with the players already at
Southampton. This enables us to fine tune every aspect
The strength of the values and manifesto have been of player recruitment in order to offer the manager the
invaluable in setting us aside from other clubs, most in depth portfolio of potential recruits in every
connecting us immediately with partners that have similar position so that they hit the ground running when they
values, ways of working and aspirations; something arrive in Southampton.
forward thinking and like-minded brands are immediately
drawn to. Furthermore, the environment in which our players train
enables us to get the best out of players who we have
What is the secret to Southampton’s ability to recruited from elsewhere. Jose Fonte and Graziano Pelle
continue to pick players that deliver on the pitch at both made their international debuts this season despite
very good value? And do you think this has an impact entering what would normally be considered the latter
on the Southampton brand? stages of their careers.

We have built our club on sound business principles and This is what makes us exciting and unique as a club and
the academy and development of young players is part of makes people all around the world sit up and take notice
that business plan. We have a philosophy that drives the of Southampton.
development of young players because we want a team
with young, homegrown players, a team of players who Do you have a unified return on investment (ROI)
have come through from eight or nine years of age, not metric that you use with all commercial partners/
all imported later on in life. sponsors?

Any manager of Southampton has the comfort of No we don’t. We believe every partner should be treated
knowing that we are all working to the same philosophy, individually and be evaluated and measured based on
so he can pick young players and allow them to make their objectives. Of course we use media values that we
mistakes, and he is not going to be put under pressure share with sponsors, but this will only be interesting to
for that. those partners whose only objective is to gain eyeballs on
their brand. We can’t compete on this metric alone, but

Brand Finance Football 50 June 2015 43.

Club Interviews
Southampton FC
we do offer unique opportunities for each partner, which
means they can enjoy bespoke activation, and targeted
fan engagement that they wouldn’t be able to do at a
‘bigger’ club. We work with each of our partners to
develop very specific ROI figures that meet their specific
objectives.

How do you balance the dual role of fans as both

customers from whom you must make money and
supporters/brand ambassadors?

Very carefully and respectfully; something that originates

from our values as a club. Football clubs will always be
subject to high operating costs, and as a sustainable club
that wants to be successful today as well as in the future,
we need to drive commercial revenue outside of the
revenue generated by football and TV rights. However,
our club is run for the fans and we want it to remain that
way for many years to come. We have upmost respect for
our fans who are there for the club through the highs and
the hard times. The last thing we want to do is take
advantage of their unwavering support. That’s why this
year we’ve frozen – and in some cases reduced – ticket
prices and shirt prices. We hope this demonstrates our
commitment to keep this a club with the fans at its heart.

We therefore have to drive revenue elsewhere. We’re

looking at innovative ways to drive commercial growth
with partnerships in relation to football development and
international growth. As part of our commitment to growth
in this area, we’ve just received board approval to
implement our new CRM solution that will allow us and
our partners to engage with our audience in a much more
targeted and intelligent way, especially on an international
level, thereby giving fans a better, richer experience and
the cub and our partners increased engagement.

How much impact can off-pitch activities have when

compared to the effect of on-pitch success on brand?

They have to work hand-in-hand. Success on the pitch

certainly makes my job easier! But to maximize the brand
and commercial opportunities from the hard work on the
pitch, this is what my team and I are here to do. In the last
year, marketing and media have been raising the profile

44. Brand Finance Football 50 June 2015

of the club and the brand by continually trying new things have so much talent and ambition and this coupled with
and doing things differently to other clubs. our values, makes us a really exciting brand that has
huge opportunity…watch this space!
For example, we were the first club to use Snapchat,
which at the time raised eyebrows, but has now become Do you have aspirations for Southampton to become
an accepted way for a brand to communicate with their a global brand?
audience. Our kit reveal campaign – where we created a
mockumentary about a colour psychologist and his Absolutely! We’ve started on this jouney this year,
Player Integrated Stripes Strategy – involved first team attracting huge interest from around the world. This
players, Les Reed – Director of Sport and Gareth Rogers included an hour long feature on the club by NBC which
– CEO, and went viral with over 250K views and gained took their prime-time spot on New Years Day and focused
coverage across football, mainstream and trade press. It on ‘The Southampton Way’ of developing talent from
was a campaign that no other club could do. Our social within. We have maximised our increased global
figures demonstrate the growth of the brand and our presence with targetted, feature – length player and
followers even in the last year – Facebook likes grew manager interviews in key markets such as Asia and the
185% between April 2014 and April 2015 and have since Middle East. The board and senior management team
passed the one million mark. The media team are are now developing plans for international growth,
constantly producing new and interesting content and looking at how we focus our resources and maximise
reacting to fan feedback and comments. Back in January opportunity. We are ready to go out and share our
our #GoodLuckTim message to a fan helped him pluck exciting and unique club with the world!
up the courage to speak to a girl who sat near him at St
Mary’s. It pulled at the heartstrings of the nation and
received global press and social media coverage.

What do you view as key opportunities for further

brand growth?

We are in a really exciting and dynamic place. We have

big ambitions and these ambitions are shared through
everyone from the Board down. We have a relatively flat
structure and small teams that allows us to be agile and
to try new things out without fear. This allows us to really
push things and open up opportunities that clubs with
lesser ambitions or are big and hierarchical, can’t do. The
brand to us is much more than the result on the pitch. We
have so much depth, from our brand values to our
academy (we provide more England internationals at all
levels than any other club), and sport science (last
season we witnessed fewer soft-tissue injuries than any
other Premier League side) to our ‘black box’ for
recruitment and analysis, we have a unique and exciting
package that we’ve only just scratched the surface of. We
launched our new state of the art training facilities in
November and opened them up to the media for the
world to see. This was very much a starting point, we

Brand Finance Football 50 June 2015 45.

Club Interviews
West Ham FC
West Ham is one of this year’s fastest growing
football brands, up 86% in a year to $126 million,
putting the Irons firmly within the global top 20.
With a new manager recently confirmed and a move
to a spectacular new stadium not far off, we spoke
to Tara Warren, West’s Ham’s Executive Director,
Marketing and Communications to hear about the
strategy driving this year’s growth and the exciting
plans for the future.

How many people do you have working in your

marketing/brand team?

We have 3 people in the core marketing team, within a

larger team encompassing digital communication,
marketing, media and sales, and one of our great
strengths is how closely integrated and aligned all those
functions are. Our strategy is to recruit individuals who
really understand what we are trying to achieve as a Club
and have the talent to make a substantial contribution
towards it.

Do you benchmark your brand value in any way?

Our Board’s vision for this club and the trajectory required
to get there separates West Ham from any other team in
Europe. The transformation, in terms of speed, scale and
sustainability, is unlike any other club has experienced.

Therefore whilst we do benchmark our brand value, our

immediate focus is on working to further enhance the
West Ham brand, and remaining flexible and ambitious
about how high we can go. That said, we are mindful of
highly respected and independent reports such as this
which reinforce the belief that West Ham is fast becoming
one of the most investable brands in world football.

That is backed up by the exponential growth in supporter

numbers and soaring demand for Season Tickets we are
seeing. One of our brand pillars focuses on youth so our
recent 23% growth in under-18 attendance is a trend we Top: West Ham’s new, simplified crest.
want to maintain, so our New Stadium pricing strategy Middle: (l) Vice-Chairman, Karen Brady (r) Executive
includes a flat rate £99 Season Ticket for all under 16s. Director, Marketing & Communications, Tara Warren.
Bottom: West Ham’s new home, the Olympic stadium
will be refitted and feature the club’s visual identity.

46. Brand Finance Football 50 June 2015

Do you have a documented set of brand guidelines/ What impact do you think the new stadium will have
values? on the West Ham brand?

As part of our re-branding exercise, we revisited our What the move shows is that this is a hugely ambitious
brand values, and – while rooting them in our strong Club, with a Board, a new manager and – with further
heritage and traditions, including playing football in the investment planned in the playing squad – a team to
‘West Ham way’ – we also sought to communicate that deliver those ambitions. We are already seeing the impact
we are a dynamic, cutting-edge Club with a clear vision of of that ambition on the global reach of our brand, and the
how we want to grow in scale, and the determination to attraction of new supporters, investors and corporate
make it happen. partners.

We also reflected our Board’s beliefs that this Club should The Stadium is part of that overall package and will give
stand for bringing football back to the working man, while us the platform to maximise the potential of our growing
still giving our fans a first-class experience and the most fanbase. The opportunity to fill it to capacity will lead to
cutting-edge facilities; remaining rooted in our local increased revenues to invest in the team, and that will in
community, while still pursuing our global ambitions. turn enhance our brand.

That formed the basis of our new Stadium business It’s what we call the virtuous circle: having invested
strategy, applying the traditional marketing mix, starting heavily in our business goals to drive our revenue growth
with getting the product and price right in line with our and expand our fan base, working with passion and
values, including the pricing of Season Tickets. We are determination to achieve those goals, we are able to
reaping the benefits in terms of the enthusiastic response increase investment in the playing squad; and the
of supporters, and our task now is to market our offering success that produces on the pitch will in turn drive even
to the full potential support base via the right channels. stronger growth in our revenues and fan base.

Why have you decided to re-brand the club and what Do you have a unified return on investment (ROI)
do you hope to achieve by doing so? metric that you use with all commercial partners/
sponsors?
It was a reflection of where we are as a football club,
about to bid a fond farewell to our home of more than a We favour a more tailored approach, given our
century, but taking a major step forward to occupy one of commercial partners and sponsors are operating in such
the most famous Stadiums in the world, with a 54,000 varied markets, from well-established British businesses
capacity and an iconic status that can truly be a game- wanting to tap into our expanding global presence, to
changer for West Ham. international companies wanting to associate their brand
with ours. We work with them all individually to develop
Our re-branding honours and celebrates our history, while bespoke partnerships and ROI projections that fit their
demonstrating the exciting and ambitious future ahead objectives.
for the Club; this included incorporating ‘London’ into our
new crest, celebrating the fact that we have been the What all those companies have in common is seeing us
heart and soul of football in the capital for more than 100 as the most investable Club in the Premier League,
years and that we are moving to one of its most iconic because we offer a great heritage, a growing supporter
venues. base, an expanding global reach, strong revenue
projections, and of course, the new Stadium – all
combining to maintain the trajectory I’ve described.

Brand Finance Football 50 June 2015 47.

Club Interviews
West Ham FC
How do you balance the dual role of fans as both
customers from whom you must make money and
supporters/brand ambassadors?

Very few football club Boards are there to make money,

especially West Ham. Our Joint-Chairmen are fulfilling
their childhood dreams by running the Club they watched
as schoolboys.

They’ve always made clear they consider themselves the

Club’s custodians, while the fans are the Club’s lifeblood
and true owners. That’s why the Season Ticket Holders in
our new home are called ‘Founders’ because they are
making that move possible with their support and by
bringing their fellow supporters with them.

Instead of hiking ticket prices in the new Stadium, we’ve

slashed them and introduced the lowest-priced Season
Tickets in the Premier League, both for adults and under-
16s. That gives something back to those Founders, and
makes it more affordable for new supporters to join them.

Of course, the supporters remain our customer base, but

the revenues from ticket and merchandise sales are
invested directly back into the playing squad so they can
see the benefit of the money they invest in the Club and
know that any revenue growth benefits us all.

How much impact can off-pitch activities have when

compared to the effect of on-pitch success on brand?

In our case the impact is huge as all revenue we generate

off the pitch is re-invested on the pitch. Coupled with the
diligent management and work ethic of the Board,
particularly in David Sullivan’s player recruitment, the
success that produces will further promote the brand and
generate additional revenue.

Some football clubs favour the reverse model, investing

first in the playing squad to fuel expansion of their brands,
revenue and fan base. At West Ham we believe our
model is more sustainable and better reflects our brand
values of determination and effort as the ultimate drivers
of on-pitch success.

48. Brand Finance Football 50 June 2015

Players are obviously crucial to your image, how do part of the journey; re-engaging with lapsed supporters;
you manage the risks that they may personally and attracting entirely new supporters to what we believe
damage the club’s brand? will become London’s greatest football Club.

We believe in the ‘West Ham way’, which is not just about With a family of four able to buy Season Tickets at the
how the team plays football, but about behaving in a way new Stadium for £10 per head per game, we also offer
befitting the Club’s traditions and values. That means we outstanding value as a day out, especially with all the
attempt to develop good men, not just good players. other attractions of Queen Elizabeth Olympic Park, and its
excellent transport links.
Whether they come through our Academy system,
steeped in the ‘West Ham way’ from their youth, or come We are therefore confident we will fill the Stadium and
here as new signings, my communications team is create an atmosphere like no other, which will in turn
constantly engaging with the players and impressing on sustain the Club’s growth.
them that they are Club ambassadors in everything they
do, on and off the pitch. Do you have aspirations for West Ham to become a
global brand?
We have also established protocols to communicate the
Club’s vision to the players and help manage their media When Vice-Chairman Karren Brady arrived at West Ham
activities, corporate engagement, and any off-field five years ago, she instilled a belief that we could
problems, working closely with them to handle everything establish the Club as a truly global brand, attracting
the right way. partners and supporters from all over the world, and
competing with the top clubs in English and European
What do you view as key opportunities for further football, both on and off the pitch.
brand growth?
When Karren has a vision it is realised and quickly, so as
We want to keep growing the West Ham brand on a one of those tasked with delivering it, not only am I
global scale, whether agreeing new corporate confident it will happen – I believe that shift is imminent.
partnerships with international companies, planning Indeed, with West Ham currently the most investable
future overseas tours, or improving the sense of brand in the Premier League, we are already seeing that
community amongst our worldwide supporters clubs via vision become a reality.
our new website.
The move to a world famous Stadium will help to
Here at home, the clear focus of my team is on selling out maximise our global potential and we are seeing the
the new Stadium. effects with new supporters’ clubs springing up around
the world and international companies seeking to
We’ve already seen extensive interest in our ‘Club associate themselves with the Club, particularly because
London’ hospitality facilities as a premier option for our brand association with London is so valuable for
corporate client entertainment, a natural choice given we potential partners.
are on the doorstep of the world’s largest financial centre
- Canary Wharf. The revenue generated from our Ted Fenton, the founder of the West Ham Academy, said
corporate products is allowing us to offer the cheapest in the 1950s: “I want to make [West Ham] the jewel of the
Season Tickets in the Premier League. east. I want to make us so Ritzy that people will travel
miles to see us.” He never realised all his dreams, but we
Beyond that, we have three tasks: acknowledging the are close to them now, so keep watching this space.
loyalty of existing supporters and ensuring that they feel

Brand Finance Football 50 June 2015 49.

Club Interviews
Everton FC
Everton is another club to have grown very rapidly
this year. Following a much-publicised redesign of
the club’s crest, branding is never far from the
thoughts of Everton’s Commercial Director, Adam
Walker.

Roberto Martinez has had a significant impact on the

style of football Everton play. Has this had any impact
on brand perception with fans?

“The School of Science is on its way back”, has become

a chant from the terraces under Roberto Martinez as
Manager. The fans appreciate the attempts to play
football in a certain style.

Style of football has always been something that has

been demanded from Everton teams. Defining scientific
football is difficult.

Looking back to the 1930s sides, with Dixie Dean firing

the Blues to the title in 1932 and then not dropping lower
than second before wrapping up the title by Easter in
1939 are the genesis of where the term came from. It was
around this time Steve Bloomer, a Derby County player
and England International, described the Everton team in
glowing terms: “They always manage to serve up football
of the highest scientific order.” The School of Science
reference also describes the successful 1960’s side,
particularly the Holy Trinity of Howard Kendall, Colin
Harvey and Alan Ball, as well as the side of the 1980’s
that won trophies both home and abroad.

And now there is a belief that Roberto Martinez has

restored that sort of football to the Club, attracting and
giving an opportunity to young players to play with
freedom and express themselves while transmitting his
beliefs to the team and individuals. This has begun to
translate off the pitch as optimism grows and Everton
becomes recognised as a side that plays football with
style.

Do you have a documented set of brand guidelines/

values?

Everton Football Club has always been built on a strong

50. Brand Finance Football 50 June 2015

set of values that underpin who we are as a club. Our to its community, by behaving with compassion, integrity
brand guidelines are articulated not only in a document, and by its belief in doing things the right way. We want to
but also working with staff across all departments. win games, but we are also committed to winning hearts
and minds.
It is easy to become confused when talking about
guidelines, values, aims and objectives. However, our That ethos is at the heart of a commitment the Club
forefathers provided us with all the clarity we need in our makes with its charity, Everton in the Community, which
motto: “Nil Satis Nisi Optimum” – nothing but the best is embraces a remarkably extensive array of projects: the
good enough. Everton Free School which has made a difference to the
lives of children who previously had struggled in
Although these words were born in the dressing room, education; social-inclusion schemes and schemes which
many years before marketers and chief executives, they confront issues such as racism and homophobia; ‘Pass
have stood the test of time and continue to be relevant on the Memories’, supporting people living with memory
today, across every aspect of our Football Club. loss; ‘Safe Hands’ helping young offenders integrate
back into society after leaving secure care, achieving a 76
Communicating the Club’s values, ethos and philosophy per cent non-reoffending rate in its inaugural year,
is important to us and they have been distilled into a clear, compared with the national figure of 26%; ‘Imagine Your
easy-to-understand strategy, embedded across the club, Goals’, offering young people with mental health issues
focusing on four areas of collaboration and priority. the opportunity to talk about their problems and seek
Known internally as ‘the Four Pillars’, staff from across the support in a familiar environment; ‘Inside Right’,
club help bring it all to life. supporting veterans at risk of becoming isolated after
returning to civilian life; and the list goes on.
Our values are encapsulated in our mission: to make fans
proud to be Blue. We don’t ‘do’ community because we should be seen to
do it, we do it because it is in our DNA. This is who we are
The Club motto, Nil Satis Nisi Optimum, captures so and these were the principles laid down by our
many of the Club’s values: endeavour, determination, forefathers – Nil Satis Nisi Optimum.
adopting the highest standards and the relentless pursuit
of excellence. These qualities have endured throughout How do you balance the dual role of fans as both
Everton’s history. As a club, we have pioneered so many customers and supporters/brand ambassadors?
aspects of the game we take for granted today. For
example, being founder members of the Football League For Evertonians, the Club is much more than a fleeting
and Premier League, first club to build a purpose-built encounter every other Saturday afternoon. As a Club, we
football stadium, first club to issue a regular match are core to their lives, who they are, what they believe in
programme for home fixtures, first club to wear numbered and how they identify themselves. We represent them, we
shirts from 1-11, first club to install undersoil heating, first provide them with hopes and dreams and an outlet for
club to win a penalty shootout and the first club to play their passion, bringing families and friends together and
4,000 top-flight games are just some of an incredible giving them a reason to meet and talk. We galvanise
collection of firsts. We have always been innovative, communities across the city and across the world
entrepreneurial and creative. These qualities are evident through football.
and encouraged today.
That powerful, emotional bond promotes a sharing,
More recently, Everton has become known as ‘The listening and collaborative culture, stimulating and
People’s Club’. Our Club is inclusive; for the people and maintaining conversations.
of the people. It has earned this reputation by giving back
As a Club, we attempt to ensure we have fan-led
Brand Finance Football 50 June 2015 51.
Club Interviews
Everton FC
initiatives, spearheaded by our Fans’ Forum. The Forum
meets monthly to provide honest and candid feedback
on a host of issues and topics that are important to
supporters.

The representative group are able to air their views to

members of Everton’s executive management team and
other staff from the Club’s various departments.

We are proud to be deeply embedded within our

communities and will continue to bring fans into our
decision-making processes.

There is naturally a lot of focus on the high operating

costs of football clubs and, as a Club that is sustainable,
we continue to grow our commercial revenue outside of
that generated by ticket sales and TV deals.

The club is widely known as ‘The People’s Club’ and our

fans are there for the journey, through the good times and
the hard times. We constantly aim to reward their
unwavering support and this year we froze Season Ticket
prices for all price categories, with prices for children
under 11 at £95, which equates to £5 per game. We have
a desire to continue to make Goodison Park affordable to
supporters while demonstrating our commitment to
keeping fans at the core of this Club.

How important are long-term partnerships to the

development of the brand?

Long-term partnerships are very important to us and

something we pride ourselves on being able to maintain.
Our partners buy into and respect our brand values. We
develop a rapport and synergy that provides commercial
stability, allowing us to plan for the future and help drive
the development of the Everton brand.

Two examples of long-term partnerships held by the Club

are Chang Beer and Kitbag. Chang have been the Club’s
shirt sponsor for 11 years, and Kitbag, the club’s
merchandising partner, are six years into a 10 year
agreement. In that time we have developed a mutual
understanding, great working relationships and respect
and commitment for each other’s business objectives.

52. Brand Finance Football 50 June 2015

The Chang Beer brand has become synonymous with naturally to us. It is no doubt the desire of every football
Everton internationally. The Thai company’s distinctive club to grow its fanbase. Our domestic fans are very
logo has been emblazoned across the front of the Club’s important to us, while the growth of our international
shirt since the beginning of the 2004/05 season. This fanbase is an example of our ambition on the worldstage.
exposure has enabled Chang to enter new markets and The increase in international partners is an example of
achieve their global sales objectives. In return they have this.
given us a gateway to new and existing fans in Thailand
and across Asia. What do you view as key opportunities for further
brand growth?
Kitbag is a partner who is also committed to Everton. A
worldwide name in the merchandising industry, the deal As an example of further brand growth, the new global TV
has allowed us to ensure our retail operation returns a deal has demonstrated the scale of the appetite for
guaranteed profit. Premier League football. For ourselves, America and the
Far East are two areas with significant growth opportunity.
This commitment from long-standing partners is key to We have always had a loyal fan base in these areas of the
brand development as it provides consistency for world, the new TV deal has increased exposure of the
stakeholders. Premier League across these territories.

This summer Everton will participate in the Barclays As for any Club, we are aware of the potential brand
Asia Trophy. How do you balance the need to appeal growth in international markets. Our Partnerships team
to an international audience whilst maintaining a has already secured commercial deals with companies
strong domestic presence? including Dafabet in Asia and EZ Trader and continue to
work hard to build on our commercial portfolio.
The growth of football and the Premier League as a
product has meant we have some amazing opportunities How do you intend to build on Everton’s current
to play all over the world and our participation in the global brand appeal?
Barclays Asia Trophy is a good example of this.
In this report Everton is ranked as the 15th most valuable
The opportunities that do present themselves allow us to brand in world football. Our challenge now is to capitalise
showcase our brand, our values and even some of our on the demand for Everton content and our Marketing
community work to new territories. Recently we played and Communications strategy is key to this commercial
Dynamo Kyiv in a Europa League Round of 16 tie. success.
Working with the local authorities in Kyiv as well as
UNICEF, the Club delivered coaching sessions for some We are constantly delivering engaging, award-winning
of the displaced children from the recent conflicts in the campaigns, which reach all corners of the globe. This is
country as well as visiting a school in the area. The Club underpinned by our extremely proactive media relations
also has a relationship with CCLL, a Chernobyl charity, function to ensure that our players and our manager are
which meant we were able to invite young people from frequently across the major media networks across the
the affected areas to the game. Although the result did world.
not go our way, a little bit of Everton remained in the
Ukrainian capital. Everyone at the Club strives to be the best across all
areas of the business. From the Academy to our award-
Finding the balance between seeking to captialise on the winning charity, Everton in the Community, we live and
boom of the Premier League alongside the requirement breathe our ethos ‘Nothing But The Best’ and, with this
to maintain a strong domestic presence has come spirit and commitment, we believe the future is very bright
for Everton.
Brand Finance Football 50 June 2015 53.
Visual Identity Changes in Football:
Keeping The Fans Onside
Few, if any brands in the world generate such passion
and obsession as football brands. And arguably
nothing inspires that passion more than the club logo
and colours. In branding terms, these key
components comprise the visual identity. It’s been
intriguing therefore to watch the various football club
rebrand projects that have been taking place over the
last few years, some which have been far from
smooth. Of course it is nothing new to change a logo,
or a strip, or even a club name, but now that these
changes are being made in the name of ‘The Brand’ it The fans are obviously key to the club and therefore to
seems fans have become more sensitive to change. the brand. Large clubs with a solid fan base and strong
brand can find it easier to bounce back from adversity.
As the football industry becomes ever more Juventus, Lazio and Fiorentina were relegated in 2006
commercialized, the drivers for visual identity change following the Serie A match fixing scandal and all have
seem to be increasing. They include a desire to returned now to Serie A, with Juventus crowned
modernise, to drive merchandise sales, to reach new champions this year. Admittedly the club infrastructure,
global audiences and occasionally simply for the ego of financial strength and other factors associated with these
the club’s owner. Clubs are now being renamed following clubs will have played a part. Even in cases where clubs
a merger or acquisition as in the case of City Football have moved across multiple divisions (take Glasgow
Group’s (holding company owning Manchester City) and Rangers or the steady rise of AFC Wimbledon for
the purchase and rebranding of Melbourne Heart to instance) we are seeing the retention of brand strength
Melbourne City. We are seeing in many cases however reflected in their fan following.
that these changes are being made to simplify
reproduction of visual identity across an increasing Strengthening the brand is the obvious course of action
number of brand carriers. for owners but not simply to increase the chance of
bouncing back from relegation. Clubs are looking to
Visual identity for a football club means more than a logo strengthen their brands to maximise revenue from
design. However, the logo or club crest is the core of the merchandise, sponsorship deals and TV rights and to
identity and often most precious to fans. Traditionally support in attracting and retaining the best talent, both on
many of these logo designs have drawn from a heraldic and off the pitch.
system and this has led to complicated designs as new
elements are added to denote some part of the club’s By refreshing, or changing the identity of the club, many
heritage. A club such as Newcastle United is a particularly owners are hoping to strengthen the brand and
good example of a complicated heraldic crest. Even if the differentiate. Some clubs and owners however are
club’s crest only features one or two of these extra underestimating the attachment that fans have to the
elements (see Real Madrid’s crown or Roma’s Romulus visual identity. Understanding these sensitivities is key to
and Remus) they all add to complexity making them diplomatically navigating this often extremely tricky
harder to reproduce. We are therefore seeing more and process.
more clubs evolving their designs, simplifying them,
giving them a more professional edge, and reflecting the When club owner Assem Allam announced to Hull City
behaviours pioneered by the big commercial brands. But AFC fans that their club would be renamed Hull City
change is not always welcomed and simplification can Tigers there was uproar from fans. There was however
result in conflict between fans and club owners. Making arguably a sound theory at the core of the decision. The
the transition can be very challenging. club was already nicknamed ‘The Tigers’, featured a tiger

54. Brand Finance Football 50 June 2015

 on the club crest and played in orange and black.
Renaming the club would simply strengthen that identity
and serve to differentiate the brand. The fans however are
still extremely unhappy with the change and the club was
relegated this year. When the difference between
relegation can be as little as a single point, is it too much
to suggest that a more unified club might have produced
better performances and avoided the drop? Engaging
fans in the process can go a long way to avoiding
problems.

Of course with any visual identity change there is always

going to be opposition. Brands such as GAP and
Tropicana have all faced vociferous opposition to their
new and improved designs. Football supporters with their
close connection to the club and sense of ownership are
tribal and often very traditional. Add to this the power of
the internet and social media and supporters groups are
able to air their views, sign online petitions and create
formidable disruption to brand reputation. The result is
that the fans now hold considerably more power to
influence decisions and are likely to make their voice
heard, loudly.

The Everton rebrand in 2013 is an excellent example of

just how much sway the fans can have over the club. The
changes to the club logo were reportedly requested by
the TV stations who were finding it difficult to use for
graphics in matches. With all clubs now relying heavily on
the huge TV rights money it would have been impossible
to say no. When the fans reacted angrily to the new
design and 24,000 signed a petition the club swiftly
returned to using the old logo and began a fan
consultation process. The process unsurprisingly resulted
in the choice of a new design which was very similar to
the original. Everton’s swift engagement process helped
considerably to placate fans and maintain the club’s
good relationship with its supporters, though the new
design will do little to ease the burden on the TV stations’
overworked graphic designers.
Top, Everton’s crest from 2000-2013 featuring the
iconic Prince Rupert’s Tower. Middle, the unpopular, There is therefore an argument to be made for allowing
short-lived, simplified version. Bottom, the club’s new these decisions to play out for a little longer and allow
crest, introduced after extensive fan consultation, implementation of the new design first. A visual identity
reflects the rejection of the previous design. change should be more than just an updated logo reveal

Brand Finance Football 50 June 2015 55.

Visual Identity Changes in Football:
Keeping The Fans Onside
but encompass a full strategy for implementing business
change. Who can say whether fans of Everton would not
have warmed to the design over time? 24,000 signatures
may seem a lot but perhaps not when we consider that
Everton have over 2 million likes on their Facebook page
and a global fan base around the 10 million mark. The
Arsenal rebrand in 2002 was poorly received initially by
fans but, in retrospect has proved to be a superb, almost
glaringly obvious decision which tied in perfectly with the
new stadium and other club improvements. Manchester
United dropped ‘Football Club’ from their logo, but most
fans have no doubt forgotten it was ever there. If not they
must surely now be able to see the benefit of making
‘Manchester United’ more prominent on the design.
Outside of football, LOCOG (London Organising
Committee of the Olympic Games) faced vociferous
opposition after the unveiling of the London 2012 logo
but once the holistic visual identity strategy was
implemented it was an outstanding success.

Conflict between fans and clubs is likely to continue for

the foreseeable future as more clubs attempt to adjust
their visual identities. Hopefully the fans can begin to trust
that the changes being made are, in the most part, for the
better. To do this, clubs must communicate and engage
fans early on, not to give them design control but to
explain the reasons for the change and to convince them
of the strength of the strategy. They must show that these
changes are in the name of ‘The Brand’ but that the
brand belongs to the club and the fans. A stronger brand
commercially will mean more revenue streams for the
club and potentially more money to compete for top
players and the development of better facilities.

Once the identity has been refined it is possible to

implement a strategic brand architecture across the club.
Many clubs now use new sub brands for fashion labels,
club stores, and hospitality and in some cases these can
vary dramatically in design. Detailed long term planning
from the outset is critical to a successful brand
implementation. The optimal time for this is to incorporate
architecture thinking into the logo design phase. Inter
Milan, in 2014 unveiled an updated visual identity which
at face value looked to be a very small simplification of
the logo. The club has taken this opportunity however to

56. Brand Finance Football 50 June 2015

also rebrand over 10 sub brands, develop its own unique
typeface and refine implementation across the board.
This has created an impressively consistent identity
covering apparel, academies, media and education. The
level of consistency here is of a type more commonly
seen for the world’s largest and most valuable brands
and is an example of what can be achieved when a long
term and holistic strategy is planned and executed.

Many more clubs will simply be thinking about

modernising their core identities to ease the production of
merchandise and other brand carriers as well as to build
up recognition among existing and potential fans globally.
It should be remembered however that some clubs are
further away from perfecting a consistent, holistic visual
identity than others. Each case will have its own unique
sensitivities and cultural differences. For some this will
mean lengthy consultation processes with the fans to
negotiate the removal of certain emotive elements.
Liverpool’s design including the Hillsborough eternal
flame for instance will be a very important element to
discuss in any redesign. Others such as Newcastle
United whose fans reacted angrily to the renaming of St
James’ Park will need to be treated carefully should a
brand refresh ever be considered.

Throughout the transition, clubs will need to be sensitive

to heritage and tradition as well as the opinions of fans.
Communication will be key, as will having the courage
and conviction to develop winning visual identity
strategies that are judged on their implementation over
time.

Conflict with fans is not necessarily an inevitable outcome Tom is a visual identity consultant for VI360. VI360
of change, providing respectful engagement programmes is a visual identity management consultancy which
are put in place to inform fans of club strategy and to specialises in helping clients implement, monitor,
canvas their opinions. If clubs can articulate strategies measure and control all visual elements of their
which reconcile commercial priorities with the benefits of brand identity. http://vi360.com/
a loyal fan base, then the visual identity change process
will inevitably be smoother and club brands will grow
from strength to strength.

Brand Finance Football 50 June 2015 57.

Understand Your Brand’s Value
A Football League Table Report provides a complete breakdown of the
methodology, data sources and calculations used to arrive at your
brand’s value.
Each report includes expert recommendations for growing brand value to drive business performance and
offers a cost-effective way to gaining a better understanding of your position against competitors. A full report
includes the following sections which can also be purchased individually.

Brand Valuation Summary

Overview of the brand valuation including executive
summary, explanation of changes in brand value and
historic and peer group comparisons.
+ Internal understanding of brand
+ Brand value tracking

Trademark Audit
Analysis of the current level of protection for the
brands word marks and trademark iconography
highlighting areas where the marks are in need of
protection.
+ Highlight unprotected marks
+ Spot potential infringement
+ Trademark registration strategy

Royalty Rates
Analysis of competitor royalty rates, industry royalty
rate ranges and margin analysis used to determine
brand specific royalty rate.
+ Licensing/ franchising negotiation
+ International licensing
+ Competitor benchmarking

Cost of Capital
A breakdown of the cost of capital calculation,
including risk free rates, brand debt risk premiums
and the cost of equity through CAPM.
+ Independent view of cost of capital for internal
valuations and project appraisal exercises

58. Brand Finance Football 50 June 2015

Sports Credentials
English Premiership Club - Brand Co

Brand Finance conducted a brand valuation for a major Premier League club to provide
a formal independent opinion of the fair market value of the brand. The report helped
this club to consider options relating to the transfer of the asset into a newly
incorporated entity (BrandCo) and alternative financing opportunities.

Portuguese Liga Club - Brand Valuation and Royalty Rate Analysis

Brand Finance carried out a royalty rate analysis for a Portuguese club in order to
determine the appropriate arm’s length royalty rates that the club should charge group
companies for the use of the brand. An indicative valuation was also undertaken on the
brand. The study enabled the club to comply with transfer pricing regulations whilst
charging an arm’s length royalty rate to other group companies.

Arabian Gulf League Club - Brand Valuation and Strategy

Brand Finance is conducting brand valuation for a leading club from the UAE. The
valuation involves an analysis of the brand in order to provide strategic
recommendations for growing brand value.

Shell - Sponsorship

Brand Finance was asked by Shell International Petroleum Company Limited to conduct
an evaluation of the costs and benefits of the Ferrari sponsorship. The top down
approach to sponsorship evaluation thus provides compelling evidence that the Shell
involvement in Formula One, and the link with Ferrari in particular, is an extremely
worthwhile investment.

Global Insurance Company - Sponsorship

Brand Finance was appointed to conduct an audit on the brand’s rugby sponsorship.
We provided an analysis to determine whether the brand’s existing measurement of
sponsorship effectiveness was in line with best practice and also provided our opinion
on whether the brand should continue its sponsorship. We identified how the brand’s
measurement systems could be improved in order to better measure historic
effectiveness, justify future investment and help strategic decision making for
management.

Société Générale – Sponsorship Audit & Positioning Strategy

An audit of Asian sponsorship activities, including benchmarking against competitor
activities and providing recommendations of sponsorship activities both relevant to
Asian markets and aligned with Soc Gen’s brand promise and culture. The sponsorship
report was used for management reporting and to prioritize marketing investment
allocation.
Brand Finance Football 50 June 2015 59.
Sports Club Services

Commercial purposes
• Valuation – demonstrate the value of your club to potential investors in order to raise funds
• Royalty rate setting – what should I be charging manufacturers and retailers for the right to create and sell my clubs
merchandise?

Brand strategy
• Visual identity management – how might a change in logo impact the club’s fan engagement and consequently its
brand and business value
• Visual identity audit – is the club’s visual identify consistently applied throughout all physical and digital
touchpoints
• Brand tracking – how has the club’s brand strength, brand value and business value evolved over time compared
to competitors

Sponsorship evaluation
• Stakeholder drivers analysis – demonstrate to a current or potential partner how a sponsorship of your club might
favourably impact its key stakeholders
• Fan base analysis – develop a demographic/psychographic profile of your supporters which will allow for
comparison against the consumer profile of a potential sponsor and thereby ensure a better fit

Revenue maximization
• Analysis of current sponsorships and stadium naming rights - what deals are other clubs achieving and does our
current deal represent good value
• Negotiating contracts/terms with sponsors
• Marketing collateral – does the club have compelling materials with which to convince potential sponsors?

60. Brand Finance Football 50 June 2015

Sponsor Services

Financial impact analysis

• Return on investment – quantify the impact of how a particular sponsorship might affect consumer behaviour and
how this in turn impacts revenue, brand and business value

Brand Strategy
• Brand fit – is the current or potential sponsorship an appropriate fit for the company’s target audience and
ambitions?
• Activation – is the sponsorship being backed by appropriate levels of activation?
• Brand extension/new product development – what avenues for further commercialization of the partnership may
exist?

Sponsorship evaluation
• Stakeholder impact analysis – does my sponsorship have a positive impact on customers, distributors, staff, etc
• Competitor profiling – what sponsorship activities are competitors undertaking and how does my deal compare?
• Negotiations – is there room to negotiate a more favourable deal?

Richard Haigh
For more information about Head of Sports
our services and what we can T: +44 (0)20 7389 9400
do for you please contact: E: [email protected]
www.brandfinance.com

Brand Finance Football 50 June 2015 61.

Contact details
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62. Brand Finance Football 50 June 2015

Contact us.
The World’s Leading Independent Brand Valuation and Strategy Consultancy
T: +44 (0)20 7389 9400
E: [email protected]
www.brandfinance.com