Following today’s news (Thursday 12th May) that WhaleFin, a digital asset platform owned by Singapore-based Amber Group, has signed a new $20 million-a-year shirt deal with Chelsea FC;

Conrad Wiacek, Head of Sport Analysis at GlobalData, a leading data and analytics company, offers his view:

“The new deal between Chelsea and WhaleFin highlights the fact that Chelsea still offers significant global appeal following the takeover by Todd Boehly’s consortium, but also the disruptive nature that cryptocurrency is having on the sports sponsorship market.

“With a 480% increase in sports partnerships from 2020 to 2021, with soccer jumping up from 25 deals in 2020 to 78 by the end of 2021, according to GlobalData, the focus was already on the sport as the highest value driver of sponsorship investment. Over $330 million has been committed annually to soccer partnerships from crypto brands and this figure is set to only increase.

“Chelsea’s previous deal with Hyundai was worth $10 million annually. The club has managed to double its income from its deal with WhaleFin, so it’s likely that cryptocurrency will continue to disrupt the sports market.

“With over $30 billion invested in sponsorship deals already, other clubs such as Liverpool FC will be looking on with interest to gauge the current value of their Front of Shirt deals, given the impact of new players entering the market.”