Chelsea has secured a £10 million sleeve sponsorship agreement with cryptocurrency firm BingX, and the club aims to implement it in time for the first leg of the Carabao Cup semi-final next week.
Beginning the current season without any shirt sponsorship deals, Chelsea later finalized a £40 million arrangement with Infinite Athlete for their logo to feature on the front of shirts. However, the club had been without a sleeve sponsor since WhaleFin, another cryptocurrency organization, terminated a £20 million-per-year deal midway through the previous season.
Recent reports indicate that Chelsea has now struck a £10 million deal with BingX to sponsor the team’s shirt sleeves for the remainder of the current season. The agreement entails adding the BingX logo to the sleeves this year, with plans to transition BingX to become the primary sponsor of Chelsea’s training kits, displacing Trivago. Infinite Athlete will also shift to the sleeves of the training kits starting the 2024/25 season.
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In an effort to maximize revenue from sponsorship deals, Chelsea deferred a decision on a front-of-shirt sponsor for this season while exploring the best financial offers. Discussions have already taken place regarding a new main sponsor, with Riyadh Air, a Saudi Arabian airline, among those engaging with Chelsea for future agreements.
Reports earlier in the season suggested that Chelsea is seeking a deal worth £60 million per season, which would be a club record and position the Blues among the highest-earning football clubs globally. Real Madrid currently holds the most valuable shirt sponsorship deal, earning €70 million (£60.4 million) through their partnership with Emirates.