Chelsea 'in talks' for a £120m deal to solve outstanding Todd Boehly problem
Reports suggest that Chelsea are in talks with various companies, including German financial service Allianz, to replace Three as the club's main shirt sponsor. Three's current deal with the club is set to expire at the end of the season, and Chelsea had hoped to have secured a new partnership by now, as the financial implications at stake are significant. However, Three decided against extending their three-year agreement with the club, causing further uncertainty around the search for a new sponsor.
Three received backlash from supporters after the company suspended the deal following Roman Abramovich's links to the Russia-Ukraine conflict. This caused further sponsor deals to be withdrawn, with digital asset platform WhaleFin having to pull out of a deal to become the shirt sleeve sponsor. This has added to the urgency for Chelsea to secure a new sponsor deal, as the financial impact of losing such deals can be significant.
Allianz is reportedly amongst the companies in positive talks with Chelsea, however, the club refused to comment on the report, and Allianz themselves stated that this is not an imminent deal for them. It remains to be seen whether a deal will be reached in time for the club to avoid a major financial blow.
The current deal with Three is worth around £40m a year, equating to a total of £120m across the three-year agreement. Chelsea had hoped to secure a deal worth even more with the new sponsors, but this may now be difficult to negotiate due to the poor performance of the club this season, which means they are unlikely to play European football next season.
The search for a new sponsor is important for Chelsea, as they rely heavily on sponsorship deals to generate income. It is therefore essential that they secure a new partnership soon to avoid any negative financial impact. However, it is also important that they choose a sponsor that is in line with the club's values and will not cause backlash from supporters.
Overall, the search for a new sponsor is an important task for Chelsea, and they must ensure they secure a deal that is beneficial for both the club and the sponsor. With talks ongoing, it remains to be seen whether a new partnership will be announced soon, or if Chelsea will face a major financial blow.
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