The Football Association (FA) has agreed to pay up to UK£3 million to end its image rights contract, according to a report in British weekly newspaper The Mail on Sunday.
FA executives have worked on terminating the deal with the 1966 Entertainment agency, with an agreement said to be close to finalisation – possibly during the upcoming international break in October.
The FA’s belief is that by taking the players’ image rights in-house, the organisation will be able to generate greater commercial revenue, while also saving money in the long-term.
It will also mean that sponsorship opportunities involving England players will become more streamlined, with the necessity to pass through a third party removed.
The move comes after England enjoyed their most successful Fifa World Cup since 1990, with the team reaching the semi-finals of the tournament in Russia, with the goodwill created by the team’s run providing more sponsorship potential.