Everton's shirt sponsorship with Cazoo will come to an end following the culmination of the 2021/22 season.
News revealed by The Athletic on Friday confirmed the online car retailer's time on the front of the Blues shirts would end after the current campaign.
It is understood Everton activated a break clause in the contract with Cazoo, which was initially valued to be around £9.6m a year, and that developments were not affected by a decision over Russian companies earlier in the week.
The ECHO also understands discussions between Everton and Cazoo took place before the turn of the year over a decision to potentially extend their deal or not.
Both sides had the opportunity to refuse, but it was the Blues who took up that option.
Cazoo later revealed they had failed to agree suitable terms to extend their agreement with Everton.
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In a statement to The Athletic, the company confirmed: "We can confirm that the Cazoo sponsorship of Everton Football Club will not continue after the end of the current season.
"The original deal was for two years and it has been a strong partnership over this period which has delivered on our objectives and we are proud to have supported the Club and raised over £75,000 for Everton in the Community during this time.
"We were unable to agree suitable terms to extend our sponsorship of Everton beyond the original two years but can confirm that we will remain the principal partner and shirt sponsor of Aston Villa Football Club next season."
Cazoo replaced SportPesa as Everton's shirt sponsor in the summer of 2020 after the club decided to terminate their deal with the gambling company early following a club-wide commercial review.
Friday's developments follow news on Wednesday that the Blues suspended their commercial agreements with USM, Megafon and Yota due to Alisher Usmanov's connections to Vladimir Putin.
Following Russia's military invasion of Ukraine, pressure had been growing for the club to cut ties with Farhad Moshiri later stepping down from the board of USM.
These decisions had no bearing on the decision to bring a completely separate agreement with Cazoo to an end.
Everton will now be looking to confirm a new shirt sponsor for the 2022/23 season and beyond in due course.
