Everton have announced a club-record sponsorship deal with gambling company Stake.com.
The agreement, which will net Everton in excess of £10 million per season, replaces the club’s existing sponsorship deal with Cazoo.
In January 2020, chief executive Denise Barrett-Baxendale said “in an ideal world” that Everton would not be sponsored by a gambling company, and would prefer “a different type of sponsor”.
They were sponsored by Kenyan betting firm Sportpesa between May 2017 and May 2020, ending that deal two years early after a strategic review.
However, the club have now returned to the gambling world after announcing a “multi-year partnership” with Stake.com, believed to be the largest of any club outside the 'big six'.
Stake.com was founded in 2017, and also sponsor the UFC.
Last season, the club’s commercial plans were upset by the sanctioning of Uzbek-born billionaire Alisher Usmanov, with Everton ending several deals worth in the region of £20 million.
A club statement said: “Everton Football Club has confirmed a club-record main partner agreement with Stake.com.
“The multi-year partnership with the leading casino and sports betting platform will commence on 1 July and is the highest value front-of-shirt deal in the club’s 144-year history.
“As Everton’s main partner, the Stake.com brand will feature on front of the men’s and women’s playing shirts as well as appearing on screens and media backdrops at Goodison Park and Finch Farm and across the club’s digital platforms.”
Barrett-Baxendale added: “Stake.com is an ambitious organisation with impressive growth plans and we’re all very excited to enter into a partnership with them at this stage in their journey.
“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 — I’d like to congratulate them on this achievement and, on behalf of everyone at the club, express my gratitude to Stake.com for choosing Everton as a long-term partner.”
(Photo: Getty Images)
GO DEEPER
Why Everton's deal with 'crypto betting' firm Stake is not quite what it first appears
GO DEEPER
Explained: Everton's proposed takeover
GO DEEPER
Everton, their commercial strategy and response to losing USM as main sponsor
Why have Everton chosen a gambling sponsor?
Everton have had to be pragmatic after the unexpected loss of USM revenue, worth in the region of £20 million per season, earlier this year. A £20 million gap in funding would be a blow for any club, never mind one that has posted three successive losses of over £100 million and is trying to stay within FFP limits.
That has led to some tough decisions with regards to potential partners.
Where once CEO Barrett-Baxendale said that “in an ideal world” the club would not be sponsored by a gambling company, referring particularly to the decision to part ways with former sponsor Sport Pesa, now there is a feeling internally that very few sectors can be ruled out completely — that, in simple terms, securing the maximum amount possible is the priority.
It's why Everton will start the 2022-23 season with a gambling firm once again on the front of their shirts.