Chelsea announce cryptocurrency firm WhaleFin as new shirt sleeve sponsors in £20m-a-year deal

Chelsea have announced cryptocurrency firm WhaleFin as their new shirt sleeve sponsors for the 2022/23 campaign.

The Blues confirmed on their official website in the early hours of Saturday morning that American billionaire Todd Boehly and his consortium had signed an agreement purchase the club, following the UK Government’s approval. 

He has partnered with fellow Dodgers owner Mark Walter, Swiss billionaire Hansjorg Wyss as well as investment firm Clearlake Capital. 

And following Boehly’s arrival in west London, the European champions have now confirmed a £20m-a-year deal with burgeoning group WhaleFin, who are set to replace South Korean car firm Hyundai as shirt sleeve sponsors next season.

WhaleFin is a digital asset platform owned by Amber Group, a company based in Singapore. 

The deal is a big boost for Chelsea, worth £20million a year to the Premier League side

The deal marks Chelsea’s first official move into the crypto market, weeks after Liverpool were linked with picking another such firm to replace their main shirt sponsor, Standard Chartered, and after Manchester United made a deal with blockchain group Tezos. 

After confirming the deal, Chelsea CEO Guy Lawrence said: ‘This is a hugely exciting partnership for the club, which aligns us with one of the most advanced digital asset companies in the world. 

‘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.’ 

Amber Group CEO Michael Wu also added: ‘Our partnership with Chelsea FC is a watershed moment as we embark on the next stage of our growth globally. With the beautiful game’s ability to rally a global audience regardless of culture, language and nationality, we are excited to showcase the full potential of digital assets to an international audience.

Todd Beohly (middle) is leading a consortium which sealed its Chelsea takeover on Saturday

‘With a storied club history backed by a world-class team, Chelsea FC is a class act that we are proud to partner with, as we bring digitisation and crypto finance to global users. We are thrilled to be associated with one of the best teams in the English Premier League, and we look forward to unlocking new sporting experiences for football fans around the world.’ 

Government sanctions placed on Chelsea due to previous owner Roman Abramovich did not allow him to financially profit from ownership of the club. 

It is reported that this sponsorship deal was signed in January, before the Government sanctions came into force.

Cryptocurrency firms are staking large amounts of money in the attempt to develop their brands, with WhaleFin also paying around £35m a year to sponsor the shirts of Spanish side Atletico Madrid.

Chelsea are also thought to be considering replacing their main shirt sponsor 3 UK.