Financial services giant Nationwide is on the verge of agreeing a new sponsorship deal with English soccer's governing body the Football Association.

Under a new scheme, the FA is reducing its portfolio of sponsors from ten to five, and is ending sponsorship of the England national side and flagship knockout tournament the FA Cup.

Nationwide is one of the existing ten-strong roster, lending its name to the Football League (the three divisions below the high-profile Premier League). Its new, four-year deal is set to be worth £40 million ($56.6m; €65.6m).

Said the company: "We have enjoyed an excellent relationship with the FA and the England team over the past four years and within the next fortnight we will be able to confirm the future."

Nationwide's willingness to stay on the FA's books stands in contrast to the collapse of negotiations with insurance giant Axa, current sponsor of the FA Cup, which criticised the FA as "unprofessional" when the new sponsorship structure was unveiled.

The FA is thought to be close to confirming three of its new five-sponsor line-up. Until last Thursday, negotiations had been conducted exclusively with the existing ten partners, but other parties can now join the fray. McDonald's, Coca-Cola and Tesco are all believed to be in the running.

In total, the FA is hoping to make £160m to £200m out of its new deals, some £8m-£10m a year per sponsor.

Data sourced from:; additional content by WARC staff