Chelsea FC forays into Crypto with Amber Group-backed Whalefin as Official Sleeve Sponsors

Key Takeaways

  • The partnership deal with Amber Group-backed crypto firm WhaleFin is worth £20 million per year
  • Whalefin will replace Korean company Hyundai’s logo in the 2022-23 season.
  • Other football companies including Liverpool and Manchester United are also considering partnerships with crypto companies.

Chelsea FC has signed a partnership deal worth £20 million per year with Amber Group-backed crypto firm WhaleFin, to become their Official Sleeve Partner from the 2022/23 season.

The football giant confirmed on their official website that WhaleFin’s logo, which features a blue whale, will adorn the kit of both men’s and women’s teams from the beginning of the upcoming season, replacing the Korean carmaker Hyundai after four years.

The football club is also considering replacing their main shirt sponsor Three, a British telecom company.

As the first digital asset partner for Chelsea FC, this partnership will enable Amber Group to introduce WhaleFin to Chelsea’s millions of football fans around the world who tune into the Premier League each season.

Guy Laurence, Chelsea Chief Executive, commenting on the new collaboration with WhaleFin said,

“”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”

Micheal Wu, the Chief of Executive Officer of Amber Group notes that the “game’s ability to rally a global audience regardless of culture, language and nationality” can help in the promotion of digital assets.

Meanwhile, another football club Liverpool FC is also considering a cryptocurrency firm to replace their shirt sponsorship with Standard Chartered. Manchester United also recently announced a multi-year partnership with blockchain firm Tezos, whose name will emblazon on their training gear.

Meanwhile, WhaleFin, a business owned by Singapore-based Amber Group, is also currently working on adding more major football firms to its portfolio of endorsements. The platform is in talks with Atletico Madrid to sign a five-year USD 42 Million deal that would be more than double what the Spanish club is paid by its current shirt sponsor, online trading platform Plus500, according to the industry publication Inside World Football.

The latest developments come as Amber Group is gearing towards a new round of funding that could bring the company’s valuation to approximately USD 10bn, undisclosed sources directly aware of development told media. The company noted that, to date, its platform had processed a total trading volume of more than USD 1tn, with over 150 countries supported and more than 1,000 institutional clients using the company’s services.

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Saniya Raahath

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