Chelsea lost three sponsorships after UK sanctions

Image caption Chelsea defeated Palmeiras and became world champion this year

With the future uncertain due to the sanctions imposed by the British government on Chelsea FC and its Russian owner Roman Abramovich, the three (3) telecommunications company has suspended its sponsorship of European and world football champions.

And according to the English newspaper The Independent, the company began linking its brand to the London club shirt at the beginning of the 2020/2021 season, with a deal worth 40 million pounds (265.2 million Brazilian riyals) annually.

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The suspension of sponsorship is temporary, but the company has requested that its logo be removed on the jersey and at Stanford Bridge, which houses the team. The announcement came just two and a half hours before Norwich’s Premier League game on Thursday (10).

“In light of the sanctions announced by the government, we are asking Chelsea to temporarily suspend our sponsorship, including removing our branding from the jerseys and the stadium until further notice,” Three said in a statement. We believe that given the circumstances and government sanctions, this is the right thing to do.”

Chelsea earns £150m a season from all of their sponsorships: Yokohama, Shure, Hublot, Hyundai and Trivago tyres. However, chances are high that these three companies will follow and suspend their sponsorship. Hyundai has stated that it is already reviewing its position in support of the English team.

Described by the British government as a “loyal Kremlin oligarch”, Abramovich’s assets in the UK were frozen along with six other Russian businessmen. Abramovich has said that he intends to sell the club, but with the closure it will not be possible to negotiate with Chelsea.

Britain’s Foreign Secretary Liz Truss said: “There is no place for oligarchs and corrupt government in our economy or society.”

However, British Prime Minister Boris Johnson’s government has published a license allowing some football-related activities. Thus, Chelsea can continue to play in the Premier League, paying the salaries of its players and staff, taxes, maintenance debts, travel costs and transfers of athletes previously agreed upon.

The economic sanctions come as a response from Western countries to the Russian invasion of Ukraine.