The All England Lawn Tennis and Croquet Club (AELTC), organizer of the Wimbledon grand slam, has announced a new multi-year sponsorship deal with UK financial services company Barclays.

The deal will see Barclays replace long-standing sponsor HSBC as the AELTC’s new official banking partner for the Wimbledon Championships from 2023.

As part of the deal, Barclays will make an annual contribution to the AELTC’s official charity, the Wimbledon Foundation, which represents the biggest-ever donation made by an official partner.

The bank additionally named American tennis player Frances Tiafoe as a brand ambassador as part of the deal.

AELTC chief executive Sally Bolton said: “We are delighted to welcome Barclays as the official banking partner of The Championships.

“Barclays’ commitment to creating access to sport for all is something that we are passionate about and, thanks to their generous support of the Wimbledon Foundation, will be a central theme of our partnership.”

The deal builds on Barclays' long-standing association with the Wimbledon Championships, having first partnered with the grand slam tournament in the 1960s with a sub-brand built directly below the stands of Centre Court.

It also adds to the bank’s growing sports portfolio, which includes title sponsorship of English soccer’s top-tier Women’s Super League and second-tier Women’s Championship in a three-year deal with England’s Football Association signed in December 2021.

Tom Corbett, group head of sponsorship and media at Barclays, said: “We’re incredibly honored and excited to be working in partnership with one of the world’s most prestigious sporting events and to announce that we’ve signed Frances Tiafoe as our tennis ambassador.

“Our joint commitment to create legacy, through Barclays community programs and the Wimbledon Foundation, means through this partnership we can deliver lasting impact and continue to create opportunities through sport.”

Global banking giant HSBC was the official banking partner of the Wimbledon Championship for 15 years, with its latest five-year deal running from 2018 to 2022. In June, it signed up UK tennis icon Emma Raducanu as a brand ambassador on a four-year deal.

In 2019, HSBC provided the AELTC with a £200-million ($239.40-million) loan for its planned purchase of a neighboring golf course to expand its grounds and make improvements to its second-biggest arena, Court One.

The 2023 Wimbledon Championship is due to run from July 3 to 16.