Everton is preparing to close a sponsorship deal with CMC Markets for €35 million.

The financial services company will replace cryptocurrency casino Stake.com as the main shirt sponsor for the Toffees.

The deal comes at a time when the Premier League is preparing to ban betting companies from appearing on the front of English teams’ shirts.

The deal is valued at £30 million (approximately €35 million), according to Sky News, but details regarding the contract’s duration are unknown.

CMC is a CFD and Forex trading platform, listed on the London Stock Exchange and led by former Conservative Party political leader and Arsenal supporter, Lord Cruddas.

Premier League says goodbye to betting companies

Premier League clubs have reached an agreement to end betting companies’ sponsorship as the main shirt sponsor starting next season, with a three-year transition period.

The move will force more than half of the top tier of English football to look for a new sponsor, including Aston Villa, West Ham, Crystal Palace, and Sunderland.

Bournemouth and Brentford have already moved ahead and signed deals with Vitality and Indeed to be their main shirt sponsors.

How much is a shirt worth?

Front shirt sponsorship is a big deal, yielding between £5 million and £70 million per year.

In the case of Everton, Stake.com paid around £10 million, suggesting that the Liverpool team’s deal with CMC Markets will be valid for several seasons.