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HSBC strikes regional partnership with Spurs, having turned down NR deal 

LONDON, ENGLAND - NOVEMBER 24: Heung-Min Son celebrates after scoring his team's third goal with teammate Harry Kane of Tottenham Hotspur during the Premier League match between Tottenham Hotspur and Chelsea FC at Tottenham Hotspur Stadium on November 24, 2018 in London, United Kingdom. (Photo by David Ramos/Getty Images)

Premier League club Tottenham Hotspur has signed a five-year regional partnership with HSBC as its Official Banking Partner in the UK and Hong Kong, the bank’s two home markets.

The contract runs from 2019-20 to 2023-24 and covers both the men’s and women’s teams. It does not include rights to LED perimeter board advertising or branding on interview backdrops.

Under the deal, HSBC will engage with projects around the stadium redevelopment scheme, which is expected to support 3,500 new jobs and enhance the local community through education, employment, health and social inclusion programmes.

HSBC says it will use its “experience and expertise” to play a supportive role in the sport-led regeneration. It will also work with the club to engage fans through a range of activities, including co-created digital campaigns.

Fran Jones, head of partnerships at Tottenham Hotspur, said: “We have developed a strong relationship with HSBC over a number of years and this new partnership is a natural expansion of this.

“The club is committed to supporting the continued regeneration of Tottenham and we look forward to integrating HSBC into our existing employment and education programmes, as well as creating impactful new initiatives together.”

Jonathan Castleman, HSBC global head of brand partnerships, said: “The deal provides us with an opportunity to connect with new and existing customers. We’ve always believed that sport has an amazing power to bring people together, promote physical and mental well-being and drive inclusion, so we are excited to be working with Tottenham Hotspur.”

Read this: AIA extension banked, Spurs push for NR deal

The two organisations already have strong links from the bank’s expression of interest in buying the Naming Rights to Tottenham Hotspur Stadium, the club’s 62,000-capacity arena which opened towards the end of last season.

It is understood that talks between Mark Tucker, the HSBC chairman, and Daniel Levy, the club’s chairman, failed to advance because of the price demanded by the club. It is thought that Spurs was looking for £20m ($25.1m/€22.7m) per year for the stadium deal.

Tucker was formerly chief executive at the AIA Group when the Asian insurance group became Tottenham’s shirt sponsor in 2013.

With the banking sector rights tied up for five years with HSBC in the UK and Hong Kong, it seems highly unlikely that the sector will provide Spurs with a Naming Rights partner.

Other brands named in connection with the rights include FMCG brand Coca-Cola and sporting goods brand Nike, the club’s existing technical apparel partner.