Online used car dealer Cazoo’s spending spree has continued as it splashes out on yet another sponsorship deal.
The used car dealer has signed a ‘multi year partnership’ with the English Football League (EFL) to become an official partner.
The deal will give it exposure at 72 EFL clubs from next season and will include match day digital branding.
Cazoo will also get branding at the Wembley finals starting with the Papa John’s Trophy Finals this weekend and followed by the Carabao Cup and Sky Bet EFL finals.
The cost of the partnership is not revealed but it is thought to be a multi-million pound deal.
It follows hot on the heels of a number of branding and sponsorship deals by the car dealer which has seen the business splash out some of the circa £450m it has raised in funding since it launched in December 2019.
In early February, Cazoo announced a partnership with the World Snooker Tour as the main sponsor of three major tournaments – the Players Championship, Tour Championship and World Grand Prix.
The Cazoo Tour Championship takes place from March 22 to 28 featuring the world’s top eight players.
Cazoo already has multi-million pound shirt sponsorship deals in place with Premier League football teams Everton and Aston Villa.
It has also poured cash into becoming principal sponsors of the Rugby League World Cup and the Hundred cricket tournament.
Cazoo founder Alex Chesterman – who launched Love Film and Zoopla before selling out of both – is rumoured to be considered floating the company in New York.
Reports in the press at the weekend increased the company’s potential valuation at float to £6bn.
Chesterman said: ‘We are delighted to partner with the EFL who are at the heart of communities across the country.
‘Our partnership with the EFL is a great addition to our other football partnerships with Aston Villa and Everton and we’re looking forward to delivering the best car buying experience to EFL fans across the country and continuing to build Cazoo into a household brand.’
Click on the date to read the full story
Feb 2021 – Cazoo acquires German subscription service Cluno and plots European expansion. As part of the deal it says it will be moving its HQ to Germany.
Feb 2021 – Reports suggest Cazoo founder Alex Chesterman cashed out £100m of shares in the last round of fundraising which was announced in October 2020. Firm refuses to comment.
Feb 2021 – Rumours surface that Cazoo is planning a stock market flotation in New York at a potential valuation of £5bn. The figures baffle industry experts.
Feb 2021 – Cazoo snaps up Smart Fleet Solutions, a vehicle reconditioning and storage specialist which operates from four sites and has 500 staff.
Dec 2020 – Cazoo buys car subscription service Drover for an undisclosed sum with a plan to offer subscriptions to the used cars on its platform.
Nov 2020 – Founder Alex Chesterman takes a swipe at car dealers saying the current sales model is ‘flawed at every level’ in an interview with The Times.
Oct 2020 – Cazoo posts £19m loss for first year of business according to accounts filed at Companies House.
Oct 2020 – Cazoo announces a further £240m in funding taking the total raised to £450m at a valuation of £2bn for the online retailer.
Sept 2020 – Cazoo accused of online-only u-turn as it begins turning former Imperial sites into ‘Customer Centres’ and plans many more around the country.
July 2020 – Car Dealer breaks the story Cazoo is about to buy Imperial Car Supermarkets. A day after our story breaks, the firm reveals the deal has been done.
June 2020 – Cazoo signs deal to become shirt sponsors of Everton in a deal rumoured to be worth nearly £10m. It soon follows it up with a similar deal with Aston Villa.
March 2020 – Cazoo announces another £100m in funding taking the total raised to £180m. DMG Ventures, the venture capital arm of the Daily Mail, piles in as part of fundraising.
February 2020 – Leaked Cazoo investor pack reveals used car dealer plans to sell 217,000 used cars a year by 2025. Predicts it will lose £70m in first three years.
December 2019 – Cazoo launches and announces a total of £80m in funding from venture capitalists General Catalyst and Mubadala Capital.