Japanese carmaker Mazda is reportedly set to replace BBVA as the title sponsor of Spain's La Liga, reports, www.sportspromedia.com/.

According to reports in the Spanish press, the company will take over as the main sponsor of the country's top soccer division when the deal between the Spanish Professional Football League (LFP) and BBVA expires at the end of next June.

BBVA, the title sponsor of La Liga since 2008, has already stated its intention to step away from the deal, valued at €23.5 million (US$31.2 million) per year, after this season.

Spanish press reports that LFP president Javier Thebas and his counterpart at Mazda's Spanish division, Jose Maria Terol, will sign a formal agreement on Wednesday.

The deal would grant Mazda a presence across all La Liga stadiums during match days, as well as placements within the league's various media channels.