Terms have been agreed by Everton to replace Cazoo as their main front of shirt sponsor for next season.
The Toffees are to sign up a new partner after a decision was made at the start of the year to end their agreement early with their current sponsors, the Liverpool Echo reports.
The Premier League club are expected to make a formal announcement as soon as the curtain falls on this season.
READ MORE: Everton report losses of almost £121m despite record turnover
It is understood that while heads of terms have been agreed the deal is only an agreement in principle and could change, and it is likely not be signed off until such time Everton confirm their Premier League status.
The deal, understood to be a significant lift on the reported £9.6m that Cazoo had been paying when they took over the rights from previous sponsors Sport Pesa in the summer of 2020, would be a multi-year deal to take them into Bramley Moore Dock.
It would offer the club a financial lift as they seek to overcome a bruising few months off the field after key sponsorships with USM Holdings and MegaFon both ended due to the links with them and the sanctioned billionaire, and long-time friend and business associate of Everton owner Farhad Moshiri, Alisher Usmanov.
Usmanov had been sanctioned by the European Union at the end of February following Russia's military invasion of Ukraine, with the Uzbek-born Usmanov having historical links with Russia president Vladimir Putin.
In the wake of the sanctions placed upon Usmanov, Moshiri stepped down from the role on the board he had previously held at USM Holdings.
Losing major sponsors at any time is difficult to contend with, but with a sponsorship market that is still attempting to bounce back from the financial implications caused across a number of sectors by the pandemic, making up the ground loss is a challenge.
Key to Everton's financial recovery will be them remaining in the Premier League. The club lost just under £121m for the most recent 2020/21 financial period, and remaining as part of English football's top flight is vital to how quickly any financial recovery can occur, especially given the bumper Premier League media deal that has been inked for the next cycle domestically and internationally.
