Everton financial ramifications revealed amid new Stake twist – Exclusive
Everton are unlikely to bear any financial brunt of parting ways with their shirt sponsor Stake, Goodison News has learned.
The Guardian reported on 12 February that the online casino will be giving up its licence to operate in Great Britain.
Goodison News understands that the Toffees’ lawyers will argue that Stake have broken the terms of their contract and that the club have no legal option but to cancel their agreement.
Stake unlikely to be the Toffees front-of-shirt sponsor
Goodison News also understands that the club will likely begin the process to cut ties with Stake as it seems unlikely that they will remain the sponsors going forward.
This move comes amid a regulatory review by the Gambling Commission, triggered by Stake’s questionable marketing practices.
The seemingly obvious decision to end this partnership is seen as a positive step for the club.
Not only does it distance the club from the reputational risks associated with Stake’s marketing strategies, which included promotions perceived as morally questionable and potentially illegal under UK gambling regulations, but it also aligns with broader calls for responsibility in sports sponsorship.
Everton to benefit from the termination of the deal
The termination of this relationship is beneficial for Everton as it avoids potential legal and financial repercussions, especially since Stake’s licence will no longer be valid from 11 March.
Furthermore, it reflects a broader movement within sports to reconsider partnerships with gambling entities, especially those linked to controversial or unethical practices.
The club’s legal team is expected to argue that Stake has violated their contract terms, providing the club with a clear basis to cancel the agreement without financial repercussions, thus safeguarding Everton’s brand integrity and focusing on more wholesome partnerships in the future.