Chelsea have not ruled out the possibility of partnering with another cryptocurrency firm despite the early termination of their deal with WhaleFin, sources have told Football Insider.
WhaleFin will remain in situ as Chelsea’s sleeve sponsor until the end of the season, but the Singapore-headquartered crypto exchange has taken the decision to end the partnership before 2023-24.
The alliance was worth around £20m per season, making it the most valuable of its kind in the Premier League.
But the company is cutting back on its sponsorship portfolio in the wake of its exposure to the collapse of FTX, which has left $2billion in consumer funds unaccounted for.
The Chelsea-WhaleFin deal has been criticised by industry experts such as Football Insider‘s Kieran Maguire, who believes a lack of regulation within the crypto sector and market volatility should make it a no-go for football clubs.
However, it is understood that Chelsea are not excluding crypto companies in their hunt for a new sleeve sponsor.
The Blues are also searching for a new front-of-shirt sponsor, but they are less likely to get into bed with a crypto firm in that department.
The West Londoners are acutely aware of the need to squeeze every last penny from commercial negotiations given their extraordinary transfer spend this season.
It is partly for that reason that they do not feel in a position to be able to be picky when it comes to striking a deal in what is their second-most-lucrative sponsorship category.
Chelsea green light new deal for star out of contract next yr, it’s top priority
Chelsea are ready to open new contract talks with Mateo Kovacic, sources have told Football Insider.
Sources with knowledge of the 28-year-old’s situation have revealed that extending Kovacic’s deal is a “priority” alongside a renewal for fellow midfielder N’golo Kante.
It is believed that the Croatia international is firmly part of Chelsea’s plans for the future.
Meanwhile, Football Insider revealed on Monday (27 February) that Chelsea are in advanced talks with Kante over an extension to his current deal, which expires in June.
Kovacic is into the final 18 months of his current Stamford Bridge contract and can discuss a pre-contract agreement with foreign clubs in January 2024.
The former Real Madrid star has struggled with a number of injury problems this season which have limited him to just eight Premier League starts.
Nevertheless, Chelsea are keen to keep the midfielder at the club as he enters his prime years.
Kovacic has racked up 207 appearances for the Blues since joining on an initial loan from Real Madrid in 2018.
He has won the Champions League, Europa League, and UEFA Super Cup during his time at Stamford Bridge.
Christian Pulisic, Cesar Azpilicueta, Mason Mount, and Ruben Loftus-Cheek are among the other stars set to leave Chelsea for free in 2024.
The mega-money Todd Boehly revolution at the club means a number of key men will need to find new clubs in the coming transfer windows.
Kovacic missed Sunday’s (26 February) away loss at Tottenham through illness.
He could return when the Blues face Leeds United on Saturday (4 March).
SOURCE: footballinsider247
