Circle Puts USDC on Chelsea Shirt
Chelsea will have a stablecoin brand on its shirt for the first time: Circle's USDC is becoming the main sponsor. The deal comes as the FCA tightens rules for crypto partnerships in British soccer.
Key Takeaways
- Circle Internet is becoming the main shirt sponsor for Chelsea FC, with USDC branding on the front.
- It is the first time a stablecoin company has appeared as the main partner on a Premier League shirt.
- The FCA previously warned Premier League clubs about partnerships with unlicensed crypto and financial firms.
Circle Internet is becoming Chelsea FC's new main shirt sponsor. That means branding from a crypto company in the stablecoin space will appear for the first time as the main partner on a Premier League shirt. Financial details were not disclosed.
First Main Shirt Deal
Chelsea plays Brighton and Hove Albion on Sunday in its first home match of the Premier League season, wearing a new shirt with USDC branding. According to earlier reports, the club was aiming for 65 million pounds per year, or $88.3 million (€75.8 million), for the spot on the front of the shirt. That position had been empty for three years.
The deal stands out because crypto companies in English top-flight soccer have so far mainly been visible as sleeve sponsors. Crypto exchange OKX previously appeared on Manchester City's sleeve, and Kraken did the same at Tottenham Hotspur. The terms of those deals were not fully made public, although the OKX agreement was estimated in 2023 at $70 million (€60.1 million) per year.
FCA Keeps Clubs on Alert
For European crypto followers, what's especially relevant is that Circle's move is not separate from the stricter stance regulators in the United Kingdom have taken. The Financial Conduct Authority warned Premier League clubs in June about partnerships with unlicensed crypto and other financial firms, because they could potentially conflict with rules around financial promotions.
That makes shirt deals in this space about more than just marketing. For clubs, it's also about reputation, compliance, and which companies are allowed to buy major visibility in soccer. In that light, Chelsea's choice of USDC is a sign that crypto brands are still looking for access to mainstream sports, but in a tighter regulatory environment. Circle is also looking for more visibility for USDC outside sports; the company previously received a U.S. trust bank license for its stablecoin services.
