In spite of the looming ban of gambling sponsorship from the front of Premier League shirts, crypto specialists Stake are reportedly close to agreeing a deal with Chelsea FC.
According to a report by SportBusiness 24, the deal is close and would only last until 2025, when the ban comes into effect.
The five-time Premier League champions are searching for a new primary sponsor after a three-year deal with mobile network Three has expired.
The ban came partially down to pressures mounting from the government, who have recently published its Gambling Act reform White Paper, and more vocal critics who state football and gambling’s entrenched relationship is having a negative effect on viewers and resulting in gambling harm.
Stake is reportedly offering significantly more money than Allianz to seal the front-of-shirt sponsorship with Chelsea, matching the £40m a year deal that Three paid out for previously.
The figure is also a lot more than what Stake currently pay Everton FC in their current £10m a year deal which will conclude before the 2025-26 season when the gambling sponsorship ban will be enacted.