Chelsea Football Club has announced a £20 million-a-year shirt deal with cryptocurrency group WhaleFin.
It was previously reported that current sleeve sponsor Hyundai were set to consider their partnership with Chelsea due to Roman Abramovich’s sanctioning.
But now, as Chelsea are set to be taken over by Todd Boehly, Mark Kleinman reports that the Blues are set to unveil a new sleeve sponsorship.
The report states that Chelsea have agreed a shirt-sleeve contract with WhaleFin, a digital asset platform owned by Singapore-based Amber Group.
The deal, which will launch next season, could be confirmed publicly as early as Thursday morning.
Despite Hyundai’s distance from Chelsea during Abramovich’s sanctioning, sources close to the transaction said that the agreement was signed in January, before the UK Government sanctioned the Chelsea owner.
WhaleFin have also struck a deal with Atletico Madrid as they enter the football advertising world.
The crypto group will replace Hyundai as Chelsea’s shirt-sleeve sponsor. It is understood that Hyundai are discussing an alternative commercial tie-up with Chelsea.
The Blues are also thought to be seeking an alternative main sponsor for their kits, with Three UK having distanced themselves from the club during the drama surrounding Abramovich.
It is unclear as to who the new sponsor could be, but this is likely to be sorted when Todd Boehly is officially named Chelsea owner and will have full control of the club.
This should be done by the end of the month, with the Government set to approve the American and his consortium.