Chelsea FC is filling a front-of-shirt vacancy that has lasted three years by naming Circle Internet as its new main jersey sponsor. The agreement puts USDC at the center of a Premier League kit for the first time by a cryptocurrency financial services firm, with financial terms undisclosed.
Highlights
- Circle Internet (CRCL), issuer of USDC, becomes Chelsea FC's principal shirt sponsor, debuting the USDC-branded home kit on Sunday against Brighton.
- Chelsea and Circle did not disclose deal terms, but prior reports indicated Chelsea sought 65 million pounds ($88.3 million) per year for the shirt sponsorship.
- This is the first time a crypto financial services firm's branding will appear as the main shirt sponsor in the Premier League, amid increased UK regulatory scrutiny on such partnerships.
Chelsea unveils USDC deal
As reported by CoinDesk, Circle Internet, listed as CRCL and known as the issuer of the world’s second largest stablecoin USDC, becomes the new principal shirt sponsor of Chelsea FC. The club is set to debut the USDC-branded home kit on Sunday in its first home match of the Premier League season against Brighton and Hove Albion.Neither side discloses the financial terms of the agreement. Earlier reports this year said Chelsea was targeting 65 million pounds a year, equivalent to about $88.3 million, for the front-of-shirt slot.
Crypto sponsorships draw regulatory attention
The agreement marks the first time a cryptocurrency financial services company’s branding appears as the main shirt sponsor of a Premier League club. Other crypto groups have entered the league through sleeve sponsorships, including OKX at Manchester City and Kraken at Tottenham Hotspur.Kraken also did not disclose the value of its arrangement, while OKX’s sleeve deal was reported at $70 million a year in 2023. The UK Financial Conduct Authority warned Premier League clubs in June that partnerships with unauthorized crypto firms could breach financial promotion rules.
NSE’s warning about illegal “dabba trading” on social media highlighted how unregistered platforms can expose investors to serious legal and financial risks. Our earlier article noted that a Facebook page allegedly offering such services is not affiliated with the exchange, and investors may lose access to regulatory protections and grievance redressal mechanisms if they use unauthorized channels.
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