BREAKING: Chelsea close club shop as Three to ‘review’ £40m-a-year sponsorship
As reported by Goal, Chelsea have been forced to close their club shop following sanctions imposed on owner Roman Abramovich, while telecommunications company Three have revealed that their shirt sponsorship deal, which is worth £40 million ($53m) per season, is under “review”.Information Guide Nigeria
That deal is now being assessed, with a statement from the company reading: “We are in discussions with Chelsea and we are reviewing our position.”
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Conrad Wiacek, Head of Sport Analysis at GloblalData, a leading data and analytics company, has said: “Sanctions placed on Chelsea owner Roman Abramovich by the UK government casts a shadow over Chelsea’s many commercial agreements, including its $52.5 million front-of-shirt deal with Telecom’s brand 3 and its $72 million kit deal with Nike.
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“While Chelsea has a sporting licence to continue trading as a soccer club, many brands will be wary of guilt by association.
“Chelsea FC is still one of the biggest clubs in the world and its on-field success still makes it an attractive commercial partner. However, given the rate at which many brands are looking to dissociate themselves from the Russian state, some may be wary of continuing partnerships.
“Nike’s deal with Chelsea runs until 2032, so the apparel brand may decide to wait the situation out until the club’s sale is able to continue. However, brands such as Hyundai and Hublot, which have deals worth over $20 million combined expiring at the end of 2021-22 season, may not have that luxury.”JAMB Result
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