Chelsea FC: WhaleFin (Amber Group, crypto) to succeed Hyundai as sleeve sponsor from 2022-23

WhaleFin, a cryptocurrency trading platform owned by Amber Group, is to become the sleeve sponsor of Chelsea FC (Premier League) from 2022-23, announced the London club on 12/05/2022. This is Chelsea FC's first foray into the crypto-asset sector.

The partnership, which covers Chelsea FC's senior men's and women's team, is valued at £20m (€23.3m) per year according to British media Sky News. This is significantly higher than the amount allocated by Hyundai, the club's sleeve sponsor over the 2018-2022 cycle, who pays €11.4m annually. The South Korean car manufacturer suspended its partnership with Russian Roman Abramovich's club on 12/03/2022 due to the war in Ukraine (terms have since been agreed for takeover of the club by a consortium of investors).

In addition to Chelsea FC, Singapore-based Amber Group is set to become the main shirt sponsor of Club Atlético de Madrid (LaLiga Santander) for €42m per season from 2022-23 (until 2026-27), nearly three times the €15m paid annually by Plus500 (trading) in 2021-22, according to Spanish media 2PlayBook on 02/05/2022.