The Premier League club, Everton FC’s shirt sponsorship deal with an online automotive retailer, Cazoo will end after this season.
The shirt sponsorship deal between the two entities was inked in the summer of 2020, with the original deal running until this summer. The deal’s termination is unrelated to Russia’s current attack on Ukraine, which has impacted a number of Everton’s other commercial ties – with the club having activated a break clause written into the contract.
Everton is also said to have taken positive steps toward finding a replacement for the Cazoo deal, which was worth around £10 million per year.
Cazoo in a statement, said, “We can confirm that the Cazoo sponsorship of Everton Football Club will not continue after the end of the current season. The original deal was for two years and it has been a strong partnership over this period which has delivered on our objectives we are proud to have supported the Club and raised over £75,000 for Everton in the Community during this time. We were unable to agree on suitable terms to extend our sponsorship of Everton beyond the original two years but can confirm that we will remain the principal partner and shirt sponsor of Aston Villa Football Club next season.”
Everton also cancelled contracts with the Russian companies USM Holdings, MegaFon, and Yota last week. All three are linked to the Uzbek businessman, Alisher Usmanov, whose assets were frozen by the EU. Following this, the Goodison Park club will now face significant commercial challenges.
With the conclusion of the Cazoo agreement, this could result in an annual shortfall of close to £30 million.
Cazoo, on the other hand, has reached an agreement with a La Liga club, Valencia CF. The online automotive retailer has been named as the team’s new main partner in this agreement.