Thai energy drink brand Carabao has agreed to renew the EFL cup title sponsorship deal for two more years till 2024. Carabao cup is an English top-flight league cup where teams across England compete against each other. The Thai energy drink brand was first roped in in 2017 as title sponsors in a three-year agreement. As per the terms of the new deal, Carabao will continue to be the sponsors of the cup competition until 2024.
The deal between Carabao and English Football League is reportedly worth £6m (€7m/$8.3m) per year. The competition was in danger of getting scrapped after the Project Big Picture proposal included no more league cup action. After signing this deal, EFL confirmed that they will continue to cater to the English football landscape through sponsorship, broadcast, and gate receipts which will provide income to all EFL clubs.
Ben Wright, the EFL’s chief commercial officer, said, “We are incredibly pleased to extend the EFL’s partnership with Carabao, it is a title sponsorship that has been hugely successful for both parties and highlights the strength of the competition both domestically and internationally. The competition offers Carabao the unique opportunity to connect with millions of football supporters whilst helping us to showcase the competition at home and on a global stage.”
Wright also lauded Carabao for their support and appreciated them as they provided help to the English football body in these tough times. Managing director of Carabao UK and Ireland, David Butcher also said that the competition has helped Carabao in creating brand presence and has been a financial asset for them. It has helped them to grow in the UK and raising awareness among the football fans in the country and all over the world.
Manchester City won the Carabao Cup for the 4th straight time last season, which makes them the most successful team in this competition with 8 titles along with Liverpool. Carabao Cup was earlier known as the Capital One Cup and this competition is named after the main sponsors unlike the English Premier League and FA Cup.