West Ham will today announce a deal with global payments company TransferMate that the club believes will give them a significant advantage when buying and selling players.
The multi-year agreement sees TransferMate become West Ham’s exclusive foreign currency provider, meaning the club can expect to benefit from better exchange rates and lower bank fees in time for the opening of the January transfer window.
“TransferMate’s unique global payments solution will be a huge asset to us as we continue to identify and attract the brightest talents in world football,” said Hammers vice-chairman Karren Brady.
“It is yet another significant example of our ongoing commitment to bringing innovative and ambitious partners on board who share our vision of an exciting and successful future at London Stadium.”
Premier League clubs strike FX deals
West Ham’s deal with TransferMate is the latest example of a growing trend of Premier League clubs signing up foreign currency providers as they seek to gain an edge in player trading.
It follows similar recent agreements at Leicester City and Watford and has been made possible by the end of Barclays’ spell as title sponsor of the Premier League earlier this year, which opened the door for clubs to display branding by other financial services providers.
TransferMate will benefit from pitch-side and in-stadia advertising at the London Stadium, West Ham’s new home, as part of the deal, which was brokered by London-based agency SportQuake.
“This new partnership with West Ham is of huge significance and it is an honour to be the club’s global foreign exchange and payments provider,” said TransferMate co-founder Sinead Fitzmaurice.
“I am confident that our global FX solution will enable West Ham to continue in their pursuit of attracting the world’s leading footballing talent and skills.
“By offering the most innovative global payment solutions in the market, TransferMate are set to deliver huge savings for the club into the future.”
The agreement marks a first foray into sports sponsorship for TransferMate, which is headquartered in Ireland but also has offices in London, North America and Australasia.
The company hopes the West Ham deal will not only drive awareness globally by way of the Premier League’s vast spectator reach but also grow new business – particularly in the City – via the club’s fanbase, corporate membership and partnership network.
West Ham enjoyed their best league performance for 14 years last season, when they finished seventh in the top division and just four points away from Champions League qualification.
They spent more than £50m on summer signings including Andre Ayew, Manuel Lanzini, Arthur Masuaku and Edimilson Fernandes, recouping around £10m on the sale of James Tomkins, and currently sit 13th in the table.