USM, the holding company belonging to Russian billionaire Alisher Usmanov, has purchased a UK£30 million (US$39 million) naming rights option for Everton's new stadium, reports, www.sportspromedia.com/.

Usmanov has already agreed an annual value and term to sponsor the Premier League side's 52,000-seater venue at Bramley-Moore Dock, which is scheduled for completion in 2023.

Everton did not reveal how much the naming rights will be worth per season, although the Telegraph reports that it is below the annual UK£25 million (US$32.5 million) Tottenham Hotspur are reportedly seeking for a sponsor of their new ground.

Everton's deal with USM, which has sponsored the club's Finch Farm training ground since 2017, does not guarantee that the holding company's name will be attached to the new stadium, but it does give Usmanov an exclusive first option ahead of other potential suitors.