11:37 am, January 12, 2023
Troubled online retailer Cazoo is to end its multi-million pound sponsorship of Aston Villa when its current deal comes to an end later this year, it has been announced.
The controversial disruptor initially agreed a ‘multi-year deal’ with the Villans back in the summer of 2020 but has since seen its fortunes tumble.
Last month it was confirmed that the company’s share price had tanked to record low, valuing the used car dealer at just £79m.
Then, last week, the New York Stock Exchange suspended trading in Cazoo warrants and began delisting proceedings.
Amid that background of financial uncertainty, it comes as no surprise that the firm will cut its sponsorship of the Premier League side.
The news follows a similar scenario at Everton, which ended its deal with Cazoo at the conclusion of last season.
Confirming the end of the Aston Villa deal, a Cazoo spokesman said: ‘The Cazoo sponsorship of Aston Villa Football Club was for three years and expires at the end of the current 2022/23 season.
‘It has been a very strong and successful partnership for both parties and we are proud to have supported the club and raised over £120,000 for the Aston Villa Foundation during this time.’
Cazoo’s branding will disappear from Villa Park after this season (PA Images)
The Daily Telegraph reports that Villa have now agreed a three-year sponsorship deal with Asian gambling firm and online casino BK8 but it is not known whether the company will take Cazoo’s spot on the front of the club’s shirts.
Following its launch in 2018, the Alex Chesterman-led company invested heavily in sports sponsorships as a way to raise awareness of its brand.
As well as Villa and Everton in England, it also partnered with the likes of Lille in France, SC Freiburg in Germany and Valencia CF in Spain.
Following the agreement of those deals, Cazoo pulled out of mainland Europe due to crippling losses.
Outside of football, the firm is also partnered with the Welsh Rugby Union, World Snooker and the Professional Darts Corporation.
The company is currently valued at $0.25 per share (Jan 12).
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