The Blues have struck a lucrative shirt-sleeve deal with a fast-growing digital assets platform.
Chelsea have announced a shirt-sleeve contract with WhaleFin for both the men’s and women’s teams from the start of the 2022/23 season.
WhaleFin, a digital asset platform owned by Singapore-based Amber Group, will pay the Premier League club a reported £20 million ($24m/€23m) per year as part of the agreement.
Sky News has stated Chelsea and WhaleFin agreed on the deal in January, a month before Russia – the home country of outgoing Blues owner Roman Abramovich – invaded Ukraine.
“This is a hugely exciting partnership for the club, which aligns us with one of the most advanced digital asset companies in the world,” read a statement from Chelsea chief executive Guy Lawrence.
“As Amber Group continue to expand coverage of their platform globally, they will now have the ability to not only speak to the hundreds of millions of loyal Chelsea fans around the globe but also be seen by the billions who tune into the Premier League each season.”
WhaleFin is thrilled to be part of the beautiful game, and we are honoured to support the players and fans of @ChelseaFC! Excited to bring the digital asset experience to football fans around the world. https://t.co/w723O42TAx
— WhaleFin (@WhaleFinApp) May 12, 2022
Chelsea enter the cryptocurrency market
This deal represents Chelsea’s first foray into cryptocurrency. WhaleFin will replace Hyundai as the club’s shirt-sleeve sponsor. The Korean car-maker is reportedly in talks over an alternative tie-up. The Blues also seek a new main shirt sponsor to succeed mobile phone group 3 UK.
As of now, Chelsea are awaiting approval from the Premier League, and for the UK government to issue a special license, to complete a change in ownership.
The UK sanctioned Abramovich has signed terms to sell the Club World Champions to a consortium led by LA Dodgers part-owner Todd Boehly. The takeover will cost around £4.25 billion. The new owners will buy out Abramovich’s shares for £2.5 billion. They will pledge a further £1.75 billion of future investment to club facilities, academy, and women’s teams.
Chelsea hope to complete the takeover before their special license to continue football operations ends at the end of this month.
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