Wolverhampton has signed a long term kit deal with UK based manufacturer “Castore” which will come into play from 2021-22 season. Castore replaces Adidas as Wolves kit suppliers from next season. Adidas were paying £3m a year ($3.9m) a year to be Wolves kit suppliers and owned all retail rights worldwide. The current contract with Adidas was suppose to run till summer 2022 but both Wolves and Adidas mutually agreed to end the contract a year early.
Wolves-Castore Kit deal financial details:
|Contract Tenure||5 year contract starts from 2021-22 season till 2027|
|Yearly Payment||£1 Million a year|
|Retail Rights||Wolverhampton retain the wider retail rights worldwide ensuring much more revenue compared to usual kit deals where kit manufacturer pay yearly lump-sump but controls retail.|
|Any bonuses related clauses ?||yearly payment jumps to £3 Million a year if Wolverhampton qualify for UEFA Champions League|
Castore is a sports cloth manufacturer launched back in 2016 in Liverpool. they have been on the rise in last few years and now they are making strides in the market and looking to add high profile English teams to their roster. Their deal with Wolverhampton is one of a kind as they will be paying just £1m a year to Wolves for a long term kit deal. But its more beneficial for wolves who retail the full retail rights under the new kit deal contract.
Castore are also in talks with Newcastle United for a £5 million year kit deal, they are also in advance talks with AS Roma. Andy Murray is face of Castore and early investor behind the brand who signed a lucrative deal with Scottish side Rangers for £25 million for 5 year period.
Wolverhampton also signed a 1 year training kit deal with uniliver brand “Sure” who will be paying £1 million for 2020-21 season.