Recent report shows that Crypto firm Amber Group; who display their WhaleFin logo on the club’s shirt is ‘terminating their £20 MILLION-a-year sponsorship’ with the Blues, seven months after the partnership started.
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Amber Group became the club’s official sleeve partner in May, with the logo of WhaleFin – the company’s flagship digital asset platform – emblazoned across the kit of both the men’s and women’s teams from the start of the season.
However, Bloomberg have reported that the crypto crash is set to hit Chelsea with Amber Group set to end their deal with Chelsea, just seven months after it started.
The report also adds that over 40% of jobs at the firm are to be axed over the collapse of FTX exchange.
Chelsea’s deal with Amber Group started just days after American owner Todd Boehly took over the club from Russian billionaire Roman Abramovich.
Amber’s WhaleFin trading platform logo, replaced the former shirt sleeve sponsor which was car manufacturer Hyundai.
It was Chelsea’s first official move into the crypto market and was done weeks after Manchester United made a deal with blockchain group Tezos.
Amber Group’s focus in the partnership was to raise the profile of WhaleFin and to help the brand grow globally.
A similar partnership was also made with Spanish giants Atletico Madrid over the summer.
The WhaleFin logo has been Atletico Madrid’s main shirt sponsor with the logo displayed on the chest of their players.
Chelsea meanwhile are turning their attentions to the resumption of the Premier League in over two weeks time.