Everton Faces Multi-Million Pound Loss Over Government Crackdown

Everton Faces Multi-Million Pound Loss Over Government Crackdown

Everton may have to walk away from its multi-million pound sleeve sponsorship deal with Stake due to a government crackdown on unlicensed betting companies.

What happened?

The UK Government has stepped up plans to ban advertising of unlicensed betting companies, which could cost Everton "multi-millions". Stake, the Toffees' sleeve sponsor, falls into this category as it is not UK licensed.

Why it matters for Everton

Everton has already removed Stake from the front of shirts due to a voluntary Premier League ban coming in regarding betting companies. However, the club clearly felt they would not have such issues when it came to sleeve sponsorships.

What comes next?

The ban could cost Everton "multi-millions", with a separate report outlining just how much the deal is worth. The Guardian reports that the deal is worth at least £10million to Everton over the next three seasons. However, it is expected that agreement will have to be ripped up after just a year.

Everton is currently 13th in the Premier League, with 49 points from 38 games, and has a recent form of LLDDL. The Toffees are 36 points behind leaders Arsenal and have lost their last three games. Their next fixture is against Bolton on July 25.

Everton's agreement with CMC Markets, which has replaced Stake on the front of shirts, is not impacted. The deal is worth £30million to the Toffees over the next three seasons.

Everton's loss of revenue could be a significant blow to the club, especially after a recent £30m sponsorship deal with CMC Markets. The club's financial situation will be closely monitored in the coming weeks.

Everton's next fixture is against Bolton on July 25, and the team will be looking to bounce back from their recent losses. The Toffees have a tough schedule ahead of them, but they will be hoping to pick up some much-needed points.

Everton's financial situation will be closely monitored in the coming weeks, and the club's decision on what to do with the Stake sponsorship deal will be eagerly awaited.