Posted on: August 9, 2023, 03:17h.
Last updated on: August 9, 2023, 03:17h.
Premier League (EPL) soccer team Chelsea has faced challenges in securing a front-of-shirt sponsor for their jerseys. After losing out on a deal with Paramount due to league objections, as well as a failed partnership with a cryptocurrency company, and a backlash from fans regarding an online gambling platform, Stake.com, Chelsea may have found a suitable alternative. Reports suggest that US-based sports tech data company Infinite Athlete is ready to step in and become the new sponsor for the team.
The EPL objected to the Paramount deal due to concerns over potential conflicts with the league’s broadcasting agreements. Allianz, an insurance company, was reportedly the next potential sponsor, but Chelsea decided to pursue a different direction. An unnamed cryptocurrency company was considered, but ultimately deemed unfit for the market challenges. Stake.com, an online gambling platform already present in the EPL, seemed like a viable option until fan backlash led Chelsea to explore other possibilities. According to reports, Infinite Athlete is now set to join the team as a sponsor, pending approval from the EPL.
No Longer Naked
Without a sponsor, Chelsea’s preseason games featured jerseys without any branding. However, just in time for the regular season, Infinite Athlete has entered the picture and will provide sponsorship for the team.
Infinite Athlete set to become the new Chelsea front-of-shirt sponsor.
No club confirmation yet as Chelsea still attempting to finalize everything ideally before #LFC. Club always optimistic of securing a sponsor by August.🔵 pic.twitter.com/JXbSvUfQuI
— Ben Jacobs (@JacobsBen) August 8, 2023
According to its website, Infinite Athlete aims to create a technological foundation across major sports, enabling the development of innovative sports technology and media products. The company is reportedly set to pay £50 million (US$63.83 million) for the branding rights, £10 million (US$12.76 million) more than the proposed deal with Stake.com.
This is not the first collaboration between Infinite Athlete and Chelsea. Last month, Chelsea announced that the club’s app would incorporate new technology called Match View X, which provides users with enhanced control over available match data.
Tempus Ex Machina, the parent company of Infinite Athlete, recently acquired biomechanics engineering firm Biocore. The acquisition led to the formation of Infinite Athlete, with Jeff Crandall, chair of the NFL’s Engineering Committee and former head of Biocore, now serving as a board member for Tempus Ex.
Chelsea kicks off the new EPL season with a match against Liverpool this Sunday. While it remains uncertain if the sponsorship deal will be finalized by then, DraftKings currently considers Chelsea as +185 underdogs, with Liverpool holding +135 odds.
Gambling Sponsorships Remain Attractive
Despite discussions of banning gambling ads and potential shrinkage in the industry, gambling-related sponsorships continue to be highly sought after and lucrative for sports clubs. Recent data from marketing firm Caytoo reveals that the number of gambling sponsors in the EPL has only decreased by one over the past year, with over a third of Premier League teams still featuring a front-of-shirt gambling sponsor.
“Over a third of Premier League teams still have a front-of-shirt gambling sponsor, only one fewer than a year ago,” asserts Caytoo founder and Head of Research and Analysis Alex Burmaster. “This shows that the economic realities and fierce competition in football trump other considerations and the clubs will need to keep taking gambling’s money until they’re no longer legally allowed to.”
Although the “Industrials” sector, which includes manufacturing companies, has become the leading sponsor category in English sports, gambling remains prominent in the soccer segment. Gambling sponsors account for 15.4% of the soccer sector, surpassing other sponsor categories.