The Blues have signed a shirt-sleeve contract with WhaleFin, a digital asset platform owned by Singapore-based Amber Group, know the details of the Chelsea deal
TSG has learned that the Blues, who are still subject to commercial limitations, have secured a lucrative shirt-sleeve contract with a fast-growing digital assets platform.
Chelsea To Announce £20 Million Sleeve Deal With Cryptocurrency Company WhaleFin: Know The Sponsor Details
Despite a temporary ban on the club negotiating lucrative new agreements while it runs under government oversight, Chelsea FC is close to announcing a £20 million-a-year sponsorship deal with a fast-growing cryptocurrency business.
Chelsea Yet to Announce the Deal
According to sources, the deal, which will begin next season, might be announced as early as Thursday morning.
It will be Chelsea’s first venture into the cryptocurrency world. It comes just weeks after Liverpool was connected with a cryptocurrency sponsorship deal to replace Standard Chartered as the club’s major shirt sponsor.
Whalefin First to Sponsor after Exit of Roman
The agreement between Chelsea and WhaleFin is noteworthy for a number of reasons. The most obvious of which is the tight commercial constraints imposed on the club since exiting owner Roman Abramovich was sanctioned by the UK government in March.
According to sources close to the transaction, the agreement was inked in January. It was far before Chelsea has limitations such as ticket and memorabilia sales bans.
Clubs Getting Sponsorships From Crypto Currencies
Manchester United and Tezos, a blockchain company, have agreed to work together. So, Chelsea’s WhaleFin alliance will not be the Premier League’s first.
It will highlight the massive quantities of money that crypto platforms are investing in order to establish their brands in one of the fastest-growing areas of global finance.
WhaleFIn is on a Roll
WhaleFin has reportedly agreed to a deal worth more than 40 million euros per year to have its brand emblazoned on the shirts of Atletico Madrid in Spain’s top flight.
Amber Group was recently rumoured to be in discussions to seek new capital valued at $10 billion or more.
Temasek Holdings, Sequoia China, and Tiger Global Management, among the most prolific investors in the world, are among its backers.
WhaleFin to Replace Hyundai
WhaleFin will take over as Chelsea’s shirt-sleeve sponsor from Hyundai. However, Hyundai is in talks with the club about a different commercial deal.
Chelsea is also thought to be looking for a new shirt sponsor to replace 3 UK, the mobile phone company.
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