Online betting operator Stake.com has announced that its subsidiary Stake News will become a sponsor of Mumbai City FC, circumventing the gambling sponsorship ban in India.
The agreement will run through the 2022-23 season and see Stake News getting its logo on the club's training kits as well as sponsoring the team's first match. The company will also have signage on match days and inside the club's training facility. Digital rights are also included, letting Stake News communicate with fans of the club.
Stake News is a news site that's affiliated directly with Stake.com, and it carries a lot of the same branding.
An extension of the current agreement is possible, although that decision will be made at some point during the next year.
Stake has been busy wrapping up sponsorships, having signed agreements with football clubs Watford and Everton, as well as the UFC and rapper Drake.
Regarding the deal, Mumbai City FC CEO Kandarp Chandra said, "Through the recent years, our focus has remained on bringing the fans closer to the club, both physically and digitally.
"Stake News' support will help us accentuate our intent of engaging with our fans not just online, but on ground as well in what will be the first time we see fans return to the stadiums after two years. On behalf of Mumbai City, I would like to express my gratitude to Stake News and we look forward to building a successful relationship with our new principal partner."
Stake News Director of Acquisition Akhil Sarin added: "Stake News is delighted that Mumbai City FC has signed us on as their principal partner for the upcoming season. We fully bought into the club's plans for expansion and can't wait to see our branding on the shirt."
"This partnership will give us an opportunity to build a community of sports enthusiasts in India by bringing resourceful news and driving key awareness within the global sports market."