Chelsea handed £10m boost with new sponsorship deal

Chelsea have agreed a £10m sleeve sponsorship deal with cryptocurrency firm BingX which the Blues hope will be in place in time for the first leg of the Carabao Cup semi-final next week.

After starting the current campaign without any shirt sponsorship deals, Chelsea found a £40m agreement with Infinite Athlete for the company’s logo to appear on the front of shirts, but the club have been without a sleeve sponsor since another cryptocurrency organisation, WhaleFin, terminated a £20m-a-year deal midway through last season.

However, numerous sources have now stated that Chelsea have struck a £10m deal with BingX to sponsor the team’s shirt sleeves for the remainder of the season.

The agreement will see the BingX logo added to the sleeves this year, before transitioning to the primary sponsor of Chelsea’s training kits, taking the place currently held by Trivago.

Infinite Athlete will also move to the sleeves of the training kits from the start of the 2024/25 season.

Chelsea are keen to raise more money from sponsorship deals and delayed a decision on a front-of-shirt sponsor this season as they waited for the best financial offer.

Talks have already been held over a new main sponsor, with Saudi Arabian airline Riyadh Air among those to have spoken with Chelsea over future agreements.

It was reported earlier this season that Chelsea are hoping to find a deal worth £60m per season – a club record and a figure which would put the Blues among the highest-earning football clubs on the planet.

Real Madrid currently boast the most valuable shirt sponsorship deal, bringing in €70m (£60.4m) from their partnership with Emirates.