The Premier League side is reported to be looking for a replacement for its current contract as LoveBet suffers due to the Covid-19 pandemic.
UK.- Burnley FC is reported to be looking for a new shirt sponsor to replace its current contract with the Asian online betting brand LoveBet.
According to the sports news outlet The Athletic, LoveBet is “believed to be experiencing serious financial difficulties” as a result of the Covid-19 pandemic.
It reports that agents in Asia have been approached “with the opportunity to sponsor Burnley’s shirts for the rest of the current season” as well as the 2021/22 season.
Burnley FC signed a three-year deal with LoveBet at the beginning of last season with the brand’s logo appearing on the front and left sleeve of players’ shirts. The contract was estimated to be worth around £7.5m a year.
The Athletic said that LoveBet had been hit hard by the impact of the Covid-19 pandemic and the blocking of its website in China.
Burnley’s new chairman, the American investor Alan Pace, recently told supporters that he would review the Premier League club’s sponsorship agreement with LoveBet.
He wrote on Twitter: “I can promise it will be reviewed as part of the overall commercial strategy for the club.”
As the UK government moves forwards with a review of the 2005 Gambling Act a ban on gambling shirt sponsorship in football looks increasingly likely, with Prime Minister Boris Johnson believed to support such a move.
Meanwhile, the Chancellor of the Exchequer has raised concerns over the potential impact of new affordability checks on gamblers.