This is the latest everton news around the globe with huge shirt sponsorship deal agreed as reveal date is set and also beating off big giant in football.
Everton are close to securing a new front-of-shirt sponsor to replace Cazoo, who will be leaving the club.
The Toffees, who have given their survival bid a huge boost in recent weeks with wins over Manchester United, Chelsea, and Leicester City, have agreed terms with a new partner, according to SportEarly, after Everton decided at the start of the year to end their agreement with their current sponsors early, as per a clause included in the deal for both parties.
The identity of the company set to take over from Cazoo, who agreed with the club before the turn of the year to end their contract early at Everton’s request, has yet to be revealed.
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But the club is expected to do so as soon as the Premier League season comes to a close, with Everton desperately hoping to keep their top-flight status after a disastrous season.
While the heads of terms have been negotiated, it is thought that the agreement is merely in principle and might alter, and that it will not be signed off until Everton confirms their Premier League membership.
The deal, which is thought to be a significant increase on the reported £9.6 million Cazoo paid when they took over the rights from previous sponsors Sport Pesa in the summer of 2020, would be a multi-year deal to bring them into Bramley Moore Dock and give the club a financial boost as they try to recover from a bruising few months off the field after key sponsorships with USM Holdings and MegaFon both ended due to links with the sanctioned billionaire, and long- time friend and business associate of Everton owner Farhad Moshiri, Alisher Usmanov.
The European Union sanctioned Usmanov at the end of February in response to Russia’s military invasion of Ukraine, and the Uzbek-born Usmanov has a long history with Russian President Vladimir Putin.
Following the imposition of sanctions against Usmanov, Moshiri resigned from his position on the board of USM Holdings.
Losing large sponsors is challenging at any time, but with a sponsorship market still trying to recover from the financial consequences of the pandemic across a variety of industries, making up for lost ground is a struggle.
Everton’s financial recovery will hinge on their ability to stay in the Premier League. The club lost well under £121 million in the most recent financial period, and staying in English football’s top division is critical to any financial recovery, especially considering the lucrative Premier League media agreement signed for the next cycle both locally and overseas.
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