Matching rights – a match made in sponsor heaven?

The recent case of New Balance Athletics ("New Balance") and Liverpool Football Club ("Liverpool FC") has brought matching rights into the spotlight, with last week's judgment concluding that New Balance failed to match the terms of Nike's offer to Liverpool FC. With an off-pitch victory for Liverpool in last week's case, we look into what matching rights mean in a sporting context, some case law on the topic, and the potential impact of the New Balance case.