Chelsea Banks on Controversial Crypto Sponsor for £45M Lifeline

Chelsea Football Club has finally secured a major front of shirt sponsor after years of struggling to find a lucrative deal. The London giants have partnered with Circle Internet Group, whose flagship stablecoin USDC will dominate the kits of the men's, women's, and academy teams.

The deal is worth around £45-£50 million per year, according to reports, and provides Chelsea with a much-needed injection of commercial cash. This comes after years of relying on temporary partnerships and playing in blank kits, as their previous deal with Three expired in 2023.

However, the partnership has been met with controversy due to Circle's recent history of financial and legal issues. The company has faced criticism for its handling of a hacking incident in which $285 million was stolen from the Drift Protocol, and it has also been accused of facilitating illicit actors and ignoring court warrants.