Cryptocurrency exchange company, BingX has agreed a kit sponsorship deal with Chelsea for the remainder of the 2023/24 Premier League season.
At the beginning of the season Chelsea were without a shirt sponsor after issues arose following the expiration of a three-year deal at the end of the previous season with 3 UK, a telecommunications network.
According to The Athletic, BingX will appear on Chelsea’s match-day shirt sleeve this season and on the front of the team’s training kit next season (2024/25). This will end the training kit sponsorship with Trivago, which has held the rights since 2021.
The value of the deal is yet to be announced.
Chelsea has been without a sleeve sponsorship for a full season since Hyundai, the Korean car manufacturer, ended its deal with the club in 2022 after its previous Russian billionaire owner Roman Abramovich was sanctioned by the UK government. Chelsea agreed a deal with Crypto firm WhaleFin in 2022 but terminated its contract midway through the season.
The new sleeve sponsorship may be visible to supporters as soon as 9 January when the London club face Middlesborough in the Carabao Cup. However, the company’s website is not currently accessible to UK visitors due to the country being a ‘restricted region’, according to a notice on the site.
BingX is a prominent cryptocurrency exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot derivatives, copy trading, and asset management.
The Telegraph has reported that BingX has mentioned its links to Russia and hosted ‘a prominent event during Moscow Tech Week’ which showcased its ‘commitment to innovation and engagement within the Russian crypto community’.
Infinite Athlete, Chelsea’s current front-of-shirt sponsor who signed a deal worth over £40m ($48.8m) for the current season, has confirmed it will also be the front-of-shirt sponsor next season. However, it is not clear who will be the sleeve sponsor for the team for 2024/25.
