According to the news service, this season shirt sponsorship revenue in the English Premier League fell for the first time in its 16-year history from about £75 million a year earlier ($138.3 million) to £67 million ($123.6 million).
Analysts believe the largest clubs, such as English champions Manchester United and Spanish title holders Real Madrid, will always attract sponsors and fans, but that smaller clubs should look closer to home for support.
Chairman and chief executive of advertising's Ogilvy Group UK, Gary Leih, told Reuters: “I don't think Man United would have much trouble finding a new sponsor, likewise Chelsea, Arsenal and a handful of other top clubs, but if you're a team struggling in one of the lower leagues, sponsorship is going to be harder to come by. What I think we will see here is sponsorship by local brands," he said. "Brands coming together with a local football team can generate enormous amounts of goodwill."
Questions have been raised in recent weeks over the future of Manchester United's £56.5 million agreement with American International Group (AIG) after the insurance group fell into financial difficulty. Fellow Premier League club West Ham United are without a shirt sponsor following the collapse of tour operator XL Leisure Group and promoted West Bromwich Albion has also failed to find a replacement for Deutsche Telekom's T-Mobile. Newcastle United was close to losing its shirt deal with Northern Rock bank, which had to be rescued by the British government, whilst Lazio, traditionally Italy's sixth-largest club, are also without a shirt sponsor.
The English Premier League is Europe's richest football league, with revenues exceeding £1.5 billion in 2007, but only eight of the 20 clubs are currently operating in profit.
