Sources: Chelsea land £12m+ payout as new deal agreed
Chelsea will earn £12million per season from their new sleeve sponsorship deal with BingX, sources have told Football Insider.
The Blues struck the deal on Thursday (4 January) which will see the crypto firm appear on the club’s sleeves for the remainder of the 2023/24 season, starting with their trip to Middlesbrough on Tuesday (9 January).
As reported by the Daily Mail, the agreement will run over multiple years with BingX set to appear on the front of Chelsea’s training shirts from the 2024/25 season onwards.
Sources say the deal is worth around £12million per season for Chelsea, making it more lucrative than their previous deal with Trivago.
Trivago paid £10million per season over a three-year period to sponsor the front of Chelsea’s training shirts, but the German-based travel company has decided to discontinue their partnership.
Chelsea’s new partnership with BingX comes just months after their deal with another crypto firm collapsed.
The Londoners struck a £20million-a-year deal with WhaleFin as their sleeve sponsors in 2022, but the agreement was terminated seven months in due to the company undergoing significant retrenchment.
Their £40million per season front-of-shirt deal with Three also expired ahead of the 2023/24 season, leaving the club without a primary sponsor until their Infinite Athlete deal was struck in September.
Chelsea’s latest financial accounts revealed that the club grew their commercial revenue to £177million in 2021/22.
Following new deals with Infinite Athlete and now BingX this season, Chelsea can expect that figure to continue growing when future accounts are released.