Chelsea has reached a one-year front-of-shirt sponsorship agreement with Circle, a cryptocurrency platform, according to The Athletic.

The club has been negotiating with the US-based company for several months, and while the exact deal value has not been disclosed, sources told The Athletic that it aligns with market rates for top Premier League clubs. Chelsea had initially hoped to secure approximately £50 million to £60 million ($67.9 million to $81.5 million) per year.

According to club sources, this initial contract covers only the remainder of this season, but includes an option to extend the partnership.

Starting this weekend, USDC will appear on the front of the shirts for the men's, women's, and academy teams across all competitions. Chelsea men's home Premier League match against Brighton will mark USDC's debut.

According to USDC's official website, USDC is a stablecoin issued by Circle, fully backed by cash and cash equivalents, and exchangeable 1:1 with US dollars. It enables fast, low-cost, and seamless global transactions through blockchain technology. "USDC" stands for "US Dollar Coin."

This sponsorship will further boost Chelsea's commercial revenue, as the club's global partner portfolio has expanded significantly in recent years.

Chelsea President and COO Jason Gannon spearheaded this partnership. In a club statement on Friday, he said: "This partnership with Circle positions Chelsea at the forefront of digital innovation in football.

"Both our organizations are forward-thinking and continuously innovating for long-term development, seeking to establish ourselves in the most advantageous position. We look forward to beginning our partnership with Circle, welcoming Circle to the Chelsea family, and continuing to enhance our operational methods."

The timing raises questions, and the short-term contract structure is noteworthy.

This partnership has been long awaited, and one might say "better late than never."

Chelsea has been seeking a front-of-shirt sponsor since their partnership with British telecommunications operator Three ended in 2023.

Chelsea found a partnership with Infinite Athlete for the 2023-24 season, but that deal was finalized only after the season began.

Chelsea signed short-term agreements with Damac Properties and industrial AI company IFS late in the season, covering the 2024-25 and 2025-26 seasons respectively. However, the Circle deal is expected to be Chelsea's first long-term front-of-shirt sponsorship since Todd Boehly and the Clearlake Capital consortium took over the club in May 2022.

The Athletic understands that Circle emerged as a leading candidate in May, but Chelsea continued negotiations with other companies before reaching this point. The club consistently emphasized that partner selection was about fit, not just price.

The delay in securing a front-of-shirt sponsor has been a hot topic among fans. Outside observers may still question why the club failed to finalize a partnership for years, only to initially sign a contract for the remainder of this season.

Diterjemahkan oleh AI.

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