Circle's USDC takes over Chelsea's jersey in Premier League first sponsorship deal
Chelsea Football Club has signed a sponsorship deal with Circle, the issuer of the USDC stablecoin, to feature the brand on their jerseys. This marks the first time a cryptocurrency firm has secured a primary shirt sponsorship in the Premier League.
Why it matters
The deal signals the increasing integration of cryptocurrency firms into mainstream sports marketing despite regulatory scrutiny from the UK's Financial Conduct Authority.
Financial terms for the deal have not been disclosed, though reports earlier this year suggested Chelsea was targeting 65 million pounds per year ($88.3 million) for the front-of-shirt sponsorship slot, which has been vacant for three years. Circle declined to provide any further comment when contacted by CoinDesk.
Chelsea will debut its new USDC-branded kit in its first home game of the Premier League season on Sunday against Brighton and Hove Albion.
The deal represents the first time a cryptocurrency financial services firm’s branding will appear as the principal shirt sponsor of a Premier League club. Crypto exchanges like OKX and Kraken have previously led this space, becoming the sleeve sponsors of Manchester City and Tottenham Hotspur respectively in recent years.
Kraken did not disclose the terms of their deal either, but OKX’s was reported to cost the exchange $70 million per year in 2023.
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