By Kieran Maguire

5th Jul, 2021 | 5:00pm

Sunderland will be thrilled amid £12m boost - Kieran Maguire

The League Cup is an important revenue stream for Football League clubs including Sunderland.

That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after the EFL extended its deal with Carabao.

Sports Pro Media reported on 25th June that the energy drinks company had extended its £6million-a-year title sponsorship for another two years.

The deal had originally been slated to expire in 2022 but will now run until at least 2024.

Maguire highlighted the competition’s financial significance for the pyramid and Sunderland as they prepare for another term in the third tier.

“They are now going into their fourth season in League One,” he told Football Insider correspondent Adam Williams.

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“The deal, as far as the EFL are concerned, is worth something between one third and two thirds of the £119m per season TV deal, depending on who you speak to.

“Sunderland made £29m in 2020, although admittedly over half of that money was from parachute payments. Their TV money is down to about £1m.

“So every little helps. It’s a tough division, League One. There’s the likes of Ipswich, Portsmouth, Sunderland, plenty of pretty big teams and nobody is guaranteed promotion.

“So all contributions will be gratefully accepted. It [the £12m] goes out as prize money and some will come out as a straight distribution.”

Sunderland travel to Port Vale in the first round of the League Cup on 10th August.

The Black Cats have twice finished as runners-up in the competition.

In other news, Kevin Phillips laments “big blow to Sunderland” amid Newcastle-Sanderson latest.