Nike has confirmed that despite Abrahamovich’s sanction it is still committed to its Chelsea alliance, according to The Athletic.
Sponsors of t-shirts On Thursday, Three announced that its partnership with the Stamford Bridge team was coming to an end.
After Roman Abramovich was sanctioned by the UK government, the telecommunications provider requested that its insignia be removed off Chelsea’s playing kit.
The UK government imposed sanctions on Abramovich on Thursday morning, with Chelsea protected by a government license.
Abramovich, dubbed a “pro-Kremlin oligarch” by the UK government, has been sanctioned with an asset freeze and a travel restriction.
However, sources close to Nike have told The Athletic that the company will continue to work with Chelsea.
There had been concerns that if Nike quit Chelsea, the club would face a widening financial hole, given the arrangement is worth roughly £900 million over 15 years.
In 2016, Chelsea agreed to a 15-year uniform agreement with Nike, earning an estimated £60 million per season. Nike has declined to comment on the data in question.
Chelsea’s match kits, training gear, and replica kits are all manufactured by Nike and sold to supporters.
ThreeUK ‘temporarily’ suspend Chelsea sponsorship
Following the UK government’s announcement this morning of sanctions against Roman Abramovich, including the freezing of his UK-based assets, including Chelsea Football Team, Three UK has decided to “temporarily” halt their sponsorship of the club.
It’s unclear what this means in terms of the financials of the £40 million-per-year contract, which is (was?) in its second year. For the time being, Three UK’s (unattractive) emblem will be removed from the shirts, possibly as soon as possible, albeit that would be a quick turnaround.
They could simply turn the shirts inside out. Other sponsors are reportedly evaluating their contracts as well, as everyone wants to be on the appetizing side of the present situation’s optics.