British soccer club Chelsea signed a sponsorship agreement with WhaleFin, a Singapore-based cryptocurrency trading and investment company.
According to the contract, WhaleFin will pay the team £20 million for placing its logo on the sleeves of players’ shirts in the 2022/2023 season. WhaleFin will replace automaker Hyundai Motor on the club’s list of sponsors, which is discussing alternatives for cooperation with the Blues.
Chelsea faced financial difficulties after British authorities imposed sanctions against the team’s owner Roman Abramovich. The club was temporarily banned from selling merchandise and froze assets stored in its bank accounts. For this reason, experts assume that the agreement between WhaleFin and the Blues was made back in January 2022.
The Russian oligarch was forced to get rid of Chelsea. The auction for the sale of the club was won by U.S. billionaire Todd Bowley, who agreed to pay for the team about $ 5 billion. The deal will be made if the British authorities approve it. Abramovich bought the club in 2003 for about $ 233 million.