Introduction
Chelsea Football Club's search for a new shirt sponsor has hit a hurdle as the Premier League is reportedly investigating their latest deal.
The Unveiling
The new season began without a sponsor on Chelsea's shirt, as the club had released it in July with the hope of finalizing a deal before the kit went on sale to fans.
A Leaked Image
An image from a behind-the-scenes photo shoot seemed to leak the new sponsor, Infinite Athlete.
New Sponsor, New Concerns
Infinite Athlete, the proposed sponsor, was established just a week before striking a deal with Chelsea. This sparked doubts and raised questions regarding the company's financial capabilities.
The £40 Million-a-Year Deal
Infinite Athlete's sponsorship deal with Chelsea is reportedly worth £40 million per year, which matches the previous sponsorship deal with 3. However, the Premier League is now investigating whether this deal represents "fair market value."
Financial Concerns
Infinite Athlete's annual turnover is only £12 million, leading to concerns about how the company can afford the £40 million-a-year sponsorship.
Merging of Firms
Infinite Athlete was formed through the merger of Tempus Ex Machina and Biocore. It is backed by investment firm Silver Lake, which is also involved with Fanatics, a company that Chelsea's co-owner Clearlake has invested heavily in.
Near Misses
Before the deal with Infinite Athlete, Chelsea came close to sponsorship agreements with online casino Stake and streaming company Paramount+. However, both deals fell through due to various reasons.
The Investigation Continues
The Premier League is conducting a due diligence investigation into the sponsorship deal between Chelsea and Infinite Athlete, leaving the future of the partnership uncertain.
Image Source: Shutterstock
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