Kieran Maguire hails new Everton commercial deal with ‘global’ potential
Everton have a global presence and that makes their latest partnership with Sokin a very clever arrangement.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after the Toffees announced the commercial deal on Tuesday.
Sokin, a foreign exchange and global currency specialist, will become the club’s official payments partner in a multi-year agreement.
Everton Commercial Director Alan McTavish wrote in an accompanying statement: “Working with such a global brand is an integral part of our commercial growth strategy.”
In their last set of accounts, the Toffees posted a £64m profit from their commercial ventures, more than double the previous year’s figure.
Maguire lauded the club for securing another deal that will work on both strategic and commercial levels.
“I think this is a good agreement for Everton,” he told Football Insider correspondent Adam Williams.
“They are an organisation which does have a significant number of global-based payments and receipts. So having someone to do that work for you is going to be beneficial.
“I think it’s more to do with building up Everton’s portfolio of business partners. Having one in financial services will definitely add to their credibility.
“You don’t necessarily want them to be in industries that are perhaps a bit more frivolous.”
Like most clubs, Everton have suffered huge revenue shortages amid the fallout of the pandemic.
The Merseysiders posted a club record £139.9million loss in their most recent financial report.
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