Amber Group’s WhaleFin to sponsor Chelsea FC

Chelsea Football Club of the English Premier League has signed a sponsorship deal with WhaleFin, a platform for trading and lending cryptocurrencies.

WhaleFin is thrilled to be part of the beautiful game, and we are honoured to support the players and fans of @ChelseaFC! Excited to bring the digital asset experience to football fans around the world. https://t.co/w723O42TAx

— WhaleFin (@WhaleFinApp) May 12, 2022

According to the Financial Times, the deal is worth £20m. The platform’s logo will appear on the sleeves of the team’s shirts from next season.

At the time of writing, Chelsea owner Roman Abramovich, a Russian oligarch, is awaiting approval of the sale of the club by British authorities. The buyers, led by American financier Todd Boehly, are prepared to pay £2.5bn.

Chelsea and WhaleFin signed a multi-year deal in January, before the war began.

In March, the Bitcoin exchange OKX (formerly OKEx) signed a sponsorship deal with the reigning league champions Manchester City. Previously, the club declined to collaborate with the crypto project 3Key due to community backlash.

WhaleFin is owned by the Singapore-based cryptocurrency company Amber Group.

In February, the Asian firm raised $200 million at a valuation of $3 billion. The round was led by investment holding Temasek.

In May it emerged that Amber Group is negotiating a new round of financing, which could reach $10 billion in valuation.