Chelsea reportedly in advanced talks with online casino company Stake for new shirt sponsorship

English football club Chelsea is in talks with online casino company Stake to become the football club's new shirt sponsor. The deal would follow Chelsea’s previous agreement with telecommunications company Three, which was valued at £40 million ($50 million) a year.

According to The Mail, Chelsea’s deal with Three is coming to an end this summer, and the club is looking for a new sponsor, eyeing Stake as a potential candidate. The mobile network attempted to cut ties with Chelsea after former owner Roman Abramovich was sanctioned last year.

As per the Evening Standard, the Stake sponsorship is yet to be signed off at Stamford Bridge. The casino company is looking at beating its competitors, including a bid by German financial services company Allianz, who reportedly offered £20 million ($25 million) a year for the sponsorship. Separate talks with a cryptocurrency company have also reportedly failed to materialize, as per media reports. 

The Premier League in April announced that it would be prohibited to have gambling sponsorships on shirt fronts after the 2025-26 season. However, football clubs will be allowed to carry the logos of betting brands until the new rule goes into effect. Chelsea is reportedly looking at getting into a year-long commitment with Stake.