Circle's USDC becomes Chelsea's main shirt sponsor in Premier League first deal

Circle's USDC is the new main shirt sponsor of Chelsea FC. The agreement is the first time a cryptocurrency financial services firm's branding has appeared as the principal shirt sponsor of a Premier League club. The financial terms were not disclosed. Reports earlier this year suggested Chelsea was targeting 65 million pounds per year, or $88.3 million, for the front-of-shirt slot. The slot had been vacant for three years. Chelsea will debut the USDC-branded kit in its first home game of the Premier League season against Brighton and Hove Albion on Sunday. Circle declined to provide further comment. OKX previously became a sleeve sponsor of Manchester City. Kraken previously became a sleeve sponsor of Tottenham Hotspur. Kraken did not disclose the terms of its deal. OKX's deal was reported to cost $70 million per year in 2023. The U.K.'s Financial Conduct Authority warned Premier League clubs in June about partnerships with unauthorized crypto firms. The FCA said such partnerships could breach financial promotion rules.