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Chelsea FC's shirt sponsor Three has come to a decision to temporarily suspend their deal with the club. In the latest Chelsea News, it is been known that the telecommunication and internet provider company has requested the club to remove their name from the jerseys. Moreover, they have also requested the club to remove their name from Stamford Bridge.
The club now can not be sold by Roman Abramovich after the Russian owner was sanctioned by the UK Government earlier today. According to shirt sponsor Three, the contract with the club was under "review" post-Russia's invasion of Ukraine. Now, with UK Government taking everything under control, they have decided to suspend their sponsorship with the club.
"We have requested Chelsea football club temporarily suspend our sponsorship of the club, including the removal of our brand from shirts and around the stadium until further notice," an official statement by the club said.
"We recognise that this decision will impact the many Chelsea fans who follow their team passionately. However, we feel that given the circumstances, and the Government sanction that is in place, it is the right thing to do."
Three, shirt sponsor of Chelsea Club
It was being said that the company was about to extend their deal with the west London club for another two years. However, post Roman Abramovich's wish to sell the club, the deal was always in threat.
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The Situation in Chelsea FC
Post the sanction by the UK Government, the club is very close to going below Premier League level financially. The Champions of Europe now can not buy any player. Moreover, they can not sell new tickets for the games as well. Therefore, the revenue will surely hit a new low mark. Additionally, the club is not allowed to sell any club merchandise also. Hence, Three had to suspend their £40 million per annum deal with the club.
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The only revenue Chelsea will get is from their broadcasting contracts. Although that is not subsequently enough for a club like Chelsea to maintain its financial condition. Now, with everything going on, Roman can not sell the club as well. However, he wanted the money to go to NGOs to help the situation in war monged areas in Ukraine.
Chelsea's contract with Hyundai
Hyundai, the car company is also one of the sponsors of Chelsea FC. After the suspension of the deal from Three, they are also reviewing their thoughts on whether they will continue with the club or not. Hyundai, the Global Automotive Partner of the club since 2018 said they are "assessing the situation with Chelsea FC." "The company supports the sport to be a force for good," a statement from the company added.