Chelsea ‘agree £20 million a season deal’ with new sleeve sponsors

Chelsea have reportedly signed a sleeve sponsor deal with WhaleFin, which is set to be announced on Thursday.

As per Mark Kleinman of Sky Sports, the Blues have struck a £20 million a season deal with the Cryptocurrency group. The new sponsors will be replacing Hyundai, who were on a £10 million a season deal, once the takeover is completed.

The Club World Cup winners reportedly agreed the deal with WhaleFin at the start of the year, but had to wait because of the sanctions. The Crypto Group are a digital asset platform owned by Singapore-based Amber Group.

WhaleFin are also sponsors for Atletico Madrid, who struck a bigger deal with the crypto group than Chelsea. The Spanish side are getting €40 million a season. 

Chelsea are still operating under sanctions but will be soon free to get back to normal. Todd Boehly and co have signed their agreement papers with the club and now await the approval of the Premier League and the UK government. 

Manchester United also have a crypto-based sponsor – with a blockchain group called Tezos – and thus, Chelsea’s deal will not be the first of its kind in the Premier League.