With only three seasons remaining until gambling companies are no longer allowed to have their logos on the front of shirts in the Premier League, one company is reportedly striking up a deal with one of the clubs.
SportBusiness reported that Stake.com is looking to become Chelsea FC’s top-division side’s new shirt sponsor. The two have been discussing a deal that would have the online casino as a partner for three years until the end of the 2025-26 season when the ban goes into place.
The team had the company Three as their sponsor, but that deal expired after this year’s season. It was worth nearly $44 million per year. Stake, a Australian-Curaçaoan online casino, is rumored to be willing to match the same agreement Chelsea had with Three.
That would be significantly more than what they are giving another Premier League team. Everton FC already has a deal with Stake where they see about $11 million annually. Stake also had a previous deal with Watford.
This will be the first sponsorship change for new Chelsea’s owner, Todd Boehly, who bought the team from Russian oligarch Roman Abramovich for a reported $4.25 billion. Abramovich had owned Chelsea for 19 years, but was forced to sell because of his alleged ties to Russian President Vladimir Putin.
This is not the first professional team Boehly has owned. The American businessman is also a part-owner of the Los Angeles Dodgers.
As mentioned previously, Stake will have just three years to enjoy being on the front of Premier League jerseys. The league enacted the ban after the British government published its Gambling Act reform White Paper. The top sporting organization in the U.K. also received pressure from anti-gambling groups.
The news was met with cautious optimism by James Grimes, founder of The Big Step, an organization dedicated to ending the relationship between soccer and betting. He told the Guardian that it was a step in the right direction.
“Although this outcome isn’t perfect, it’s a huge step,” Grimes said. “It’s a significant acceptance of the harm caused by gambling sponsorship. No gambling ads are seen more than those on Premier League shirts, worn by billions around the world. “
