Stake, an online casino, and Chelsea are in discussions for the casino to sponsor Chelsea’s front of shirts for the first year.
The agreement is reportedly worth about the same as the previous one with the telecommunications provider Three, which brought in £40 million annually.
Although the Stake sponsorship has not yet been approved at Stamford Bridge, they appear to be on track to defeat rival insurer Allianz, who reportedly offered only £20 million annually. It is also reported that parallel negotiations with a cryptocurrency company broke down just before the deadline.
Chelsea’s one-year commitment will allow them to reevaluate their options should they once again qualify for Europe next season.
They finished in 12th place in the Premier League last season, which made their prime advertising space less appealing to potential buyers this summer.
The choice to collaborate with a gambling business is seen as pragmatic given the situation, but it exposes the club to criticism.
Because of the potential harm that these sponsorship deals with gambling companies could cause, the Premier League voluntarily decided to outlaw them starting with the 2025–26 season.
Given that it is still possible to advertise gambling brands on shirt sleeves and pitchside hoardings, the choice is an uncomfortable compromise.
Chelsea has time to reevaluate their plans to remain compliant and is still committed to the future Premier League agreement.
Last year, Stake and Everton entered into a multi-year contract, estimated to be worth around £10 million annually. Last season, the front of the shirts of eight Premier League teams, including Bournemouth, Brentford, Everton, Fulham, Leeds, Newcastle, Southampton, and West Ham, featured gambling sponsors.
