Top-flight English soccer side Chelsea have ended their search for a new front-of-shirt sponsor by securing a partnership with US-based payments technology platform Circle Internet Group.
As the club’s new principal partner, the logo of Circle’s USDC stablecoin will appear on Chelsea’s men’s, women’s and academy shirts across all competitions, starting with this week’s Premier League home game against Brighton & Hove Albion.
Terms of the deal with Circle have not been disclosed, so it is unclear whether the publicly-owned company has met Chelsea’s asking price, which was reported to be UK£50 million a season. However, according to the BBC, the club says the agreement will deliver ‘new sponsorship revenue in line with their expected market rate’.
SportsPro also understands that the deal is for one year initially and includes an option to extend the relationship.
“This partnership with Circle positions Chelsea at the forefront of football’s digital evolution,” said Chelsea president Jason Gannon. “We are two organisations fixated by the future and are relentlessly innovating to be in the best position possible for the long-term.
“We look forward to beginning our journey with Circle – to introduce Circle to the Chelsea family and continue enhancing how we operate.”
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