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by Andy Lewis @efc_andylewis

Chief Executive Robert Elstone believes Everton’s record sponsorship deal with Chang comes as a glowing endorsement of the Club’s progress.

The Blues officially signed their historic new three-year shirt sponsorship deal – the biggest in Everton history – at a lavish launch in Bangkok on Thursday afternoon (8am UK time).

The contract boasts increased terms that could see the Club net more than £12m between now and the end of the 2013/2014 season.

And by the expiry of the new extension, the partnership will have spanned a decade.

Since first joining forces with Chang in 2004, Everton have negotiated steadily better terms and Elstone believes that speaks volumes about the Club’s attractiveness to investors.

“It is a great deal for us financially,” Mr Elstone told evertontv. “It is probably about four times the original deal and is at least 25 per cent more than the current deal, so we are showing good growth rates.

“And in a climate where people are really questioning where they spend their money, questioning their investments and trying to save money wherever they can, the fact that Chang have come back to us and are prepared to spend more than they have in the past shows that we are really delivering for them

“Also I think the length of the partnership shows we work hard, we are a good partner and that it is a genuine working relationship with excellent communication.”

The new shirt deal comes hot on the back of the Club getting the go ahead to begin work on the new Park End Development.

The Blues intend to build a new £9m self-funded retail and administration centre on the current site of the Club Everton lounge.

“We have had a busy month,” added Mr Elstone. “We have a number of big projects on the go and we will continue to strive to take the Club forward and make Everton the very best it can be.”

Paul Choong, Chang's Vice-President of External Affairs, admitted his delight at seeing Mr Elstone and Marouane Fellaini in Bangkok to mark the deal.

He told evertontv: "We are so pleased about the new deal and I think it is another great moment in Chang’s history. It will take us to 10 years with Everton and it is great news.

"It is also special to have Robert Elstone and Marouane Fellaini here to grace this important occasion in Thailand. Everton and Chang have built a bond and our partnership has seen Everton become very popular in Thailand.

"The deal benefits us on so many levels. Our logo on the Everton shirt is seen by millions worldwide and through our work we also have helped so many kids in Thailand through our joint Academy.

"It is a wonderful partnership and hopefully it will continue for many years to come."

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