Circle Internet Group, the issuer of the world’s second-largest stablecoin USDC, has become the new main shirt sponsor of Premier League club Chelsea FC, with the USDC logo set to appear on the front of the team’s jersey, according to CoinDesk, which reported the deal on August 28. Financial terms were not disclosed, though earlier reporting this year suggested Chelsea had been seeking around £65 million ($88.3 million) per year for the front-of-shirt slot, which has been vacant for three years.
A First for a Crypto Firm in English Football
The agreement makes Circle the first cryptocurrency financial services firm to hold a principal front-of-shirt sponsorship at a Premier League club. Crypto exchanges have previously taken sleeve sponsorships — OKX at Manchester City and Kraken at Tottenham Hotspur — with OKX’s deal reported at about $70 million per year in 2023. Chelsea has its own history with crypto brands, having partnered with the exchange BingX on a sponsorship in early 2024.
A Sunday Debut, With Terms Still Unconfirmed
Chelsea will debut its new USDC-branded kit in its first home game of the Premier League season on Sunday against Brighton & Hove Albion. Circle declined to provide further comment when contacted by CoinDesk, and the exact value and duration of the agreement remain unconfirmed. The earlier £65 million figure reflects what Chelsea was reportedly targeting rather than a finalized deal value.
Regulatory Backdrop Sharpens the Deal’s Significance
The sponsorship arrives months after the UK’s Financial Conduct Authority warned Premier League clubs in June that partnerships with unauthorized crypto firms could breach financial promotion rules. Circle is authorized by the FCA through an e-money license it has held since 2016, a status that separates the USDC issuer from sponsors the regulator cautioned against.
Crypto Brands Deepen Their Pitch in Football
The deal extends a wider push by fintech and crypto companies onto Premier League shirts. Revolut, a digital finance firm, recently expanded into a back-of-shirt sponsorship with Manchester City, underscoring how clubs are monetizing sponsorship inventory once held by traditional brands. For Circle, the Chelsea jersey offers a high-visibility route to mainstream adoption of USDC as it competes for stablecoin market share.
