The start of the Barclays Premier League is only ten days away and Liverpool fans are among those looking forward with renewed optimism after the arrival of Brendan Rogers as manager.  The clubs owners though, who are part of a growing US factor in international soccer will have been stunned by the controversy surrounding club sponsor Standard Chartered Bank.
The UK based bank is reported to be under investigation over an alleged rogue unit that was trading with the government of Iran, contrary to international sanctions, and to the tune of transactions worth over €200 billion.
US regulators have requested a meeting with management next week and the share price of the institution has tumbled.
The dangers of moral hazard with regard to sporting sponsors generally lie on the other side, when a sporting star or team is brought into disrepute.  Wayne Rooney was dropped by a number of sponsors after salacious tabloid stories emerged about him while Tiger Woods also dipped in poularity with his commercial sponsors.
Sport is now drawing ever closer to the world of high finance and with that comes the need for careful reputation management.  Fenway Sports Group which owns Liverpool came in for criticism from fans for missing the anniversary of the Hillsborough tragedy to attend the opening of the baseball season in the spring, and while fans in Europe or Asia may be less sensitive to the troubles surrounding the club sponsor, the owners certainly will be.
Liverpool’s pre season tour took in Toronto, Boston and Baltimore this summer and if the rumours surrounding Standard Chartered are not quickly dispelled it is unlikely that many of the shirts sold off the back of that will be worn too often.