Stake and Chelsea FC reportedly discussing shirt partnership

Stake and Chelsea FC are drawing closer to a new partnership that will see the popular gaming and betting site feature its logo on the soccer team’s shirts over an initial term of the agreement of 12 months with the option to expand the partnership over a three-year period instead, multiple media outlets have reported.

The Telegraph and The Daily Mail have both confirmed the news in their own reporting, with Stake apparently determined to consolidate its presence in the betting market in the United Kingdom. The deal comes at a time when advertisement partnerships between sports betting companies and sports teams are expected to be revised under the White Paper provided by the government, and altogether phased out.

Meanwhile, though, such collaborations are expected to be allowed until the end of the 2025/26 season, which is the final deadline the two partners are reportedly aiming at. If true, Stake would be replacing the existing partnership with Three, a telecoms company, which is due to expire at the end of this summer and as outlets said – won’t be renewed.

Chelsea has been looking for a partner that could match the price tag of the outgoing partnership – around £40m payable every year of the partnership, but no other bidders have shown interest. The Telegraph wrote, for example, that Allianz, a financial and insurance company, has offered around half this sum.

Stake on the other hand is rumored to have been more than happy to meet the price tag asked and expected by the Blues. This deal will potentially allow Chelease to also prepare for a time when soccer clubs will not be able to collaborate with betting and gaming companies, even when they are respected and licensed names such as Stake, to fund their operations.

In the meantime, while there has been a clear commitment from sports teams to shed such partnerships, many clubs are actually experimenting with these deals. Stake, for example, holds a partnership with Everton, which is officially listed on the website. Meanwhile, Stake is a fully-licensed gambling entity in the United Kingdom and it holds a license from the UK Gambling Commission.

Other teams have also been teaming up with betting and gambling companies. Aston Villa, another prominent soccer club, formed a partnership with Bk8 and Brentford has an ongoing partnership with Hollywood Bets. As of today, there are eight Premier League clubs with gambling sponsorships.

Image credit: Unsplash.com