Sources: Chelsea open preliminary talks over new deal worth initial £58m
Chelsea have held talks with Riyadh Air over a possible partnership beginning in 2024/25, sources have told Football Insider.
The Blues are still searching for a front-of-shirt sponsor this season after their £40million per year deal with Three came to an end.
They have held talks with Allianz, Paramount Plus and Stake this summer before striking an agreement with US-based Infinite Athlete last month.
However, both parties await approval from the Premier League before the deal can be announced.
The Premier League is currently judging whether or not the £50million per season agreement can be deemed ‘fair value’ given that Chelsea are not competing in Europe this season.
The Infinite Athlete deal is expected to be a short-term solution for Chelsea, and the Blues have already begun sounding out potential partners for a multi-year deal beginning next year.
It is understood that Chelsea chiefs hosted board members from newly-founded Saudi airline Riyadh Air to pitch a potential front-of-shirt deal beginning in 2024.
Riyadh Air have already entered the world of sports sponsorship after becoming the front-of-shirt sponsor at Atletico Madrid this summer.
They are owned by the Saudi Arabian Public Investment Fund, which also owns a majority stake in Newcastle United.
The Magpies were tipped to partner with Riyadh Air for their own shirt sponsor this summer before instead striking a £25million-a-year deal with Sela.
Chelsea are hoping to receive between £55-£58million from their front-of-shirt sponsor from 2024/25 onwards, although achieving that figure will likely depend on the club qualifying for Europe this season.
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