Chelsea are close to ending their search for a front-of-shirt sponsor by agreeing a lucrative partnership with the United States digital currency firm Circle Internet Group.
The proposed initial one-year deal, which includes an option to extend if both parties are satisfied, would place the company's USDC logo on the front of the men's, women's and academy shirts across all competitions. The logo will be printed in a yellow font to match the style of Chelsea's shirts for this season.
While the exact financial figures are likely to remain private, Chelsea officials had reportedly been seeking a deal worth approximately £50m a season. The Stamford Bridge club are also close to securing a sleeve sponsorship agreement. Club insiders are confident they will exceed their sponsorship budget across all areas this season.
Stamford Bridge debut
If the partnership is confirmed as expected, the intention is for the USDC logo to appear on Chelsea's shirts when they play Brighton at Stamford Bridge on Sunday.
The club has started the last three consecutive seasons with a blank space on the middle of its jerseys. Their previous primary sponsorship deal with mobile network Three concluded at the end of the 2022-23 campaign, with subsequent agreements being signed midway through those seasons.
Three suspended its deal, which was thought to be worth £40m a year, following the Russian invasion of Ukraine. That event led to the forced sale of the west London club by former owner Roman Abramovich.
Stable coin expansion
Circle is viewed as a financial infrastructure and platform designed to accelerate the process of moving money across borders online. Its USDC is a regulated, dollar-backed currency known as a stable coin, meaning its value rises and falls in line with the American currency.
Circle has been seen as a major success story in the expanding fintech industry. Analysts report that the company's supply has expanded by roughly $2bn over the past week. Last year, the Aston Martin Formula One team agreed a multi-year sponsorship with Coinbase that was paid entirely in USDC.
The new sponsorship agreement would provide a further boost to Chelsea, who started the season with a 3-2 victory against neighbours Fulham under new manager Xabi Alonso.
