Kieran Maguire tips Chelsea to agree new £60m deal soon – ‘this is unheard of’
Chelsea will have no problem replacing WhaleFin as their sleeve sponsor – but a new deal is likely to be worth less than their partnership with the cryptocurrency firm.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the premature end to Chelsea’s association with WhaleFin.
As relayed by Bloomberg last Friday (9 December), the company is set to end its sleeve sponsorship deal with the West London after being left exposed by the FTX scandal.
The deal, which was worth £80m over its four-year contract length, was one of the most valuable in the Premier League.
Maguire forecasts that Chelsea may be forced to shave off £5m or £10m as they seek a new sleeve sponsor.
“Chelsea are another example of a club that have been blinded by the cheque,” he told Football Insider’s Adam Williams
“The WhaleFin deal is estimated to be worth £20m per season. That is unheard of.
“Sometimes when something sounds too good to be true, they aren’t true, and that appears to be the case here.
“If Chelsea choose to get into bed with a company from an unregulated and highly volatile industry, that does come with a risk.
“Chelsea are a big brand and replacing WhaleFin should not be a problem. Replacing the deal at the same level, however, is likely to be much more of a challenge.
“It might be that a new deal is worth perhaps closer to £10 or £15m as opposed to £20m.“
In other news, finance guru claims Todd Boehly asking “what the hell is happening?” amid internal Chelsea investigation.