Since the United Kingdom government issued fines against owner Roman Abramovich, Hyundai has become the latest Chelsea sponsor to cut relations with the team, know the details of the deal between the two
After Abramovich’s assets in the nation were frozen on Thursday, the Blues are under stringent operational limitations. And now, like jersey sponsor Three, the carmaker has ended its association with the team.
Hyundai said in a statement on Saturday that it has “been one of the strongest partners in football over the years” and that it “supports the sport to be a force for good.”
“However, we have decided to cease our marketing and communication operations with the cclub until further notice due to the current circumstances.”
Chelsea Hyundai Deal Details, Value, Length, Price And Suspension News
English football team Chelsea had announced Hyundai as their new sleeve sponsor from 2018 to 2022. The English sporting heavyweights had agreed to a four-year deal for an estimated £50 million.
The four-year deal, which listed Hyundai as the Premier League outfit’s global automotive partner saw the company’s logo replace Alliance Tyres on the left sleeve of the team’s playing shirts with it being the league’s biggest sleeve sponsorship deal.
Hyundai’s decision follows the declaration by telecommunications firm Three that it will stop sponsoring Chelsea shirts. Following the government’s decision, Three, the club’s front-of-shirt sponsor, said that their £40 million deal with the club will be suspended.
Nike and Trivago, the club’s kit maker and training kit sponsor, have remained loyal to the club thus far, but Hyundai, Chelsea’s “exclusive worldwide automobile partner” since 2018, has suddenly pulled the plug.
The Blues are also prohibited from selling tickets or creating a club store under new government regulations, and all transfer activity has been frozen.
The Premier League disqualified Abramovich from acting as a club director on Saturday, though the Blues will be allowed to play under licence until May 31. Abramovich is currently looking to sell his stake in Chelsea, and he was dealt another blow on Saturday when the Premier League disqualified him from acting as a club director.
Also Read: Chelsea Sponsorship Deals Value, Revenue And Full Sponsors List
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