English Premier League giants Chelsea have extended their partnership with BingX, naming the cryptocurrency company as their training kit sponsor for the upcoming season.
The new deal sees the cryptocurrency firm transition from being a sleeve partner to a training wear partner of the club, with the BingX logo set to appear on the training apparel of the club’s men’s team for the next two seasons.
Last season’s January deal involved Chelsea and BingX collaborating on activities with the aim of global brand growth, fan engagement, and customer experiences.
Casper Stylsvig, Chelsea’s chief revenue officer, said: "We are delighted to move into this next stage of our partnership with BingX. The first six months working together has already seen us deliver a series of world-class campaigns and initiatives, and we are excited at the challenge of going bigger and bolder in the upcoming season.”
The decision to partner with the cryptocurrency firm was a controversial move by the club as it has strong ties to the Russian crypto community.
Roman Abramovich, who owned Chelsea for almost 20 years, was sanctioned in 2022 and forced to cede control of the club due to his alleged close relationship with Vladimir Putin, the Russian president who in February 2022 ordered the invasion of Ukraine, resulting in a war that has so far displaced over 5 million Ukrainians.
Many high-profile companies, including the Premier League and the second-tier English Football League, ceased trading with Russia following the war with Ukraine.
Chelsea also have a Ukrainian international player, Mykhailo Mudryk, in their ranks.
BingX, which does not seem to be fully accessible in the UK, has offices in Asia, Oceania, Europe, and South America.
Meanwhile, fellow Premier League club Tottenham Hotspur have announced a new partnership with sports betting brand BetMGM.
The company will become the club’s official betting partner for both the men’s and women’s teams, and the official front of training wear partner for the men’s team.
The deal also entails BetMGM's branding featuring on media backdrops, on pitchside LEDs, and big screens at the Tottenham Hotspur Stadium.
The two organizations will also collaborate on providing fan experiences via giveaways and through partnership events.
BetMGM is Swedish mobile gaming company LeoVegas Group’s sportsbook brand and recently launched in the UK and the Netherlands.
The company recently announced a partnership with fellow Premier League team Newcastle United, also making BetMGM the club’s official betting partner.
