- Summary:
- Chelsea and BingX have agreed on a deal that will see the London club give BingX visibility among its millions of fans worldwide, until 2026.
Cryptocurrency exchange BingX has signed a deal to be the Official Crypto and Sleeve Partner for football club Chelse’s Men’s Playing Kits. This partnership will last until the end of the 2023–24 season and into the following two seasons. However, the two parties did not reveal the value of the deal, although such deals typically exceed $10 million.
A change of fortunes for Chelsea and a mega market for BingX
Chelsea started the season without a shirt sponsor since they hadn’t secured a substitute for 3 UK, a telecommunications company. Furthermore, the club encountered problems with prospective partners Paramount Plus, Stake, and Kaiyun Sports, putting the Blues in a tight spot.
The deal with BingX will run for a minimum of 18 months, with the first six of those months dedicated to the shirt sleeves. Evidently, Chelsea is keen on diversifying its revenue sources and visibility driven by innovation, hence the decision to team up with a cryptocurrency exchange. Furthermore, this will help the club expand its network of partnerships into an ecosystem that has attracted multiple sports clubs around the world.
In order to expand their brands internationally and connect with Chelsea fans and BingX users, the two companies will be working together on a number of projects. Also, the BingX logo will be prominently displayed both at the club’s training facility and iconic Stamford Bridge stadium. This will give BingX visibility among Chelsea’s millions of fans worldwide.
Infinite Athlete, who is now their front-of-shirt sponsor, will remain for the remainder of the season before switching to the training uniform sleeve in the next year. Chelsea has had a rough patch with shirt sponsors since Trivago, the club’s shirt sponsor over the recent seasons, including the transitional period following former club owner Roman Abramovich’s departure.
This strategic agreement signifies BingX’s first venture into the entertainment and sports industries. With more than 10 million customers across the globe, BingX has rapidly grown into a top cryptocurrency exchange since its 2018 launch. The exchange’s service range includes copy trading, asset management, spot trading, and derivatives trading.