‘Added a lot of value’… Commercial expert praises Everton after what the club did in 2022

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Everton are yet to confirm the naming rights for their new 52,000-seater stadium on the banks of the River Mersey.

On Thursday, commercial officer Richard Kenyon shared an update on the progress regarding the naming rights of Everton Stadium.

“We are continuing to make good progress in respect of stadium naming rights as we look to secure a suitable partner to benefit from this unique opportunity,” Kenyon told the club’s website.

“This has been an extensive and thorough global process, one which is focused on finding the right long-term naming partner for our new home.”

The club announced in September 2022 a partnership with Elevate Sports Ventures, a leading consultancy in sports and entertainment, to aid with the naming rights for the new stadium.

Despite an announcement on the club’s naming rights yet to emerge, an expert in commercial affairs has praised the Toffees’ strategy.

Everton naming rights strategy praised by expert

Daniel Haddad, head of commercial strategy at global sports agency Octagon, believes the club’s partnership with Elevate is an astute move to maximise the stadium’s commercial capability

Talking to the Liverpool Echo, Hadaad said: “Firms like Elevate will have a lot more institutional knowledge within the US.

“I think if you were looking for an external resource to help you monetise a stadium, you probably wouldn’t go to one of the big European agencies or more established football agencies. You would go to Elevate or Legends, one of those that actually specialise in that area.”

Haddad believes the Toffees have added value while identifying the naming rights for their new multi-purpose home.

“Even though Everton hasn’t secured a name right now, I wouldn’t be surprised if they’ve actually added a lot of value and that they are doing a good job on the other bits and pieces,” he added.

Modern-day football requires clubs to be innovative regarding revenue streams, and the Toffees’ new home will provide numerous avenues to explore.

If the club can avoid relegation and transition into a new ownership model, a fresh start could be on the horizon. A sustainable future is a must.