UK Soccer Club Everton Signs Sponsorship Deal with Stake.com
Posted on: June 9, 2022, 10:01h.
Last updated on: June 9, 2022, 11:04h.
The Everton soccer club has a new sponsorship deal that will bring in needed revenue. It announced a shirt sponsorship deal worth more than £10 million (US$12.51 million) per year with Stake.com, a casino and sports betting platform.
This agreement replaces the one with Cazoo, the car seller, which Everton ended after two years to make way for a more lucrative partnership. The club will begin the multi-year partnership on July 1. This is the most valuable front-of-shirt deal in its 144-year history.
Stake.com will be Everton’s main partnership, and appear on the front of the women’s and men’s playing shirts. It will also feature on screens at Goodison Park, Finch Farm, and across all club’s digital platforms.
Expanding Across the UK
Stake.com was established in 2017 and has grown rapidly to be one of the most popular online casinos. It boasts millions of players worldwide, and offers a wide range of casino and sports betting products. The UK Gambling Commission licensed the platform last December.
Stake.com’s partnership with Everton is an expansion of its sports partnership portfolio. It builds on the brand’s recent recognition as the UFC’s Official Betting Partner in Latin America, Asia, and Brazil. This partnership will reach a global TV audience that exceeds one billion households.
The platform also boasts a large number of internationally recognizable ambassadors. They include rapper and actor Drake, UFC champions Israel Adesanya, Jose Aldo, and Argentina striker Sergio Aguero.
My talented colleagues in our new revenue team have made excellent progress in recent months and worked tirelessly to secure what is the biggest main partnership deal in the club’s history,” stated Everton chief executive Denise Barrett-Baxendale.
Everton had previously signed a sponsorship agreement with SportPesa. But this ended in 2020 after criticism from fans about its links to the gambling sector. Denise Barrett-Baxendale, the club’s chief executive, acknowledged at the time that deals with betting companies were not ideal. However, Everton claims the motivation for the new arrangement lies in the commercial realities of competing in the Premier League.
Scrambling For New Sponsorships
Everton ended all commercial and sponsorship ties to companies owned by Alisher Usmanov, a business partner of Farhad Moshiri, the club’s owner. He is an oligarch who was subject to sanctions following the invasion of Ukraine by Russia.
USM Holdings, one of Usmanov’s companies, had a £12-million-a year (US$15.02 million) sponsorship agreement on Everton’s training grounds. It also paid £30 million (US$37.55 million) to get the first naming rights option for the club’s new stadium.
Usmanov filed a legal challenge to the European Union sanctions. A decision could be made soon on whether to suspend them.
Everton registered losses of £372.6 million (US$466.42 million) in the previous three financial years. As a result, the club has been working closely with the Premier League to ensure it meets its profit and sustainability requirements.
The club is bucking a trend in UK sports. While most teams are turning away from sponsorships from the gambling industry, Everton recognizes the financial benefit they can offer.
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