This was after an agreement between the Premier league team officials and said that they wanted to compete and promote the Premier league name like the NBA (National Basket ball Association) and American’s NFL does, instead of Barclays bank.
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Barclays bank was already considering to withdraw as soon as their current £40 million a year contract ends in 2016.
Barclays bank made an agreement to pay £120 million as a three year deal in 2012 for the present rights and this was an increment of nearly 50% addition on their previous £82 million contract.
At the end of the season, Premier league shareholders said in their meeting that they can deal without the Barclays sponsorship, their £5.1 billion domestic broadcasting deal is just enough, so they can give up the £40 million which they have been earning a year from Barclays bank.
Barclays begun sponsoring Premier league since 2001 and this was to promote their Barclays card brand, through agreements, Barclays have promoted themselves in the world, broadcasting games into over 650 million homes in over 175 countries especially Asia and Africa, but 2015 – 2016 seems to be their last, they said they will not renew.
The English premier league organization revealed that they will not seek for any more sponsor once their current deal with Barclays bank expires by 2016 , they want to emulate, compete and to keep a clean brand like the American sports leagues eg. NBA and NFL.
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