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Kieran Maguire: Luton Town hit the big time after record-breaking deal agreed
It is ‘essential’ that Luton Town use their Premier League status to sign lucrative commercial deals in order to be competitive in the top flight.
That is the opinion of football finance expert Kieran Maguire, who spoke exclusively about Luton’s record-breaking shirt deal.
The Hatters announced this month that they had partnered with UK-based electricity supplier Utilita as the club’s front-of-shirt sponsor.
Luton didn’t disclose the value of the deal per season, but revealed that the agreement was the “biggest sponsorship agreement in club history”.
The Premier League newcomers have also agreed to give £2 from every shirt sale to local charities as part of their Utilita agreement.
Luton’s commercial revenue in their latest accounts was only £2.2million – a figure which is expected to rise significantly following promotion.
Maguire believes Luton’s new sponsorship agreement will help the club to fund their transfer business this summer.
“Luton Town will be aware that their shirts and any logos on it will now be broadcast to 190 countries around the world due to their promotion to the Premier League,” Maguire told Football Insider’s Sean Fisher.
“Therefore, getting a deal signed after reaching the Premier League was essential to try and make them as competitive as they want to be.
“There is no indication that Luton are going to try and outbid any Premier League clubs in terms of player recruitment.
“But they still want to be in a position where they can be competitive by attracting some of the best talent from the Championship.
“This deal will certainly help them in that regard.“
In other news, Everton in pole position to agree £20m Gnonto signing