Chelsea FC confirmed DAMAC Properties as its front-of-shirt sponsor yesterday (30 April) for the remainder of the 2024/25 season.
The Dubai-headquartered company will also become the club’s official property development partner. DAMAC will feature on the men’s and women’s shirts, with its first appearance coming tonight (May 1) during Chelsea’s UEFA Conference League semi-final first-leg game against Djurgarden.
Chelsea have competed all season without a front-of-shirt sponsor. Its previous shirt sponsorship deal was with Infinite Athlete, with the club reportedly earning £40m for just one year of the agreement during the 2023/24 season.
Jason Gannon, President and COO of Chelsea FC, said: ‘DAMAC are world renowned in building luxury properties, and we are thrilled to be working with the industry leader to bring to market a first-of-its-kind branded Chelsea FC residence in Dubai.
“With the club located in the heart of London, the collaboration will bring Chelsea to life in Dubai, supporting our continued growth on the global stage. We can’t wait to see Chelsea Residences take its place in the Dubai skyline.”
As the club’s property development partner, DAMAC will develop a new football-branded residency in Dubai, titled ‘Chelsea Residences by DAMAC’. The aim will be to help expand Chelsea’s profile across Dubai and the wider Middle Eastern region, as well as producing an “ultra-modern” living space for interested parties.
Amira Sajwani, Managing Director of Sales and Development of DAMAC Properties, added: “This launch marks the first of an elite collection that celebrates not just the passion of Chelsea FC but its enduring legacy, innovative spirit and relentless pursuit of excellence.
“This initiative goes beyond celebrating the beautiful game; it sets a new benchmark for those who expect nothing less than the exceptional, every time.”
The announcement of a new front-of-shirt sponsor with just four games left of the current Premier League season may come as a surprise to not just Chelsea fans, but Premier League fans overall.
New front-of-shirt sponsorship deals are often signed prior to the start of a new season and often the most valuable. There are mutual benefits for both club and business, as clubs gain vital revenue, whilst companies gain major exposure from the Premier League’s global appeal.
While Chelsea will almost certainly gain some added revenue before the season concludes, and DAMAC will receive exposure across England and Europe, the club will have to go back into the market again this summer for a new front-of-shirt sponsor.
Since the consortium of Todd Boehly and Clearlake Capital acquired Chelsea in May 2022 from longtime owner Roman Abramovich, the new ownership group has applied a different business model to their predecessor.
With its pre-existing shirt sponsorship deal with mobile network 3 coming to an end in June 2023, Boehly and co were tasked with finding a new shirt sponsor, which came with difficulties.
Chelsea shopped the market and was reportedly in talks with the likes of Stake.com and Paramount+ to become the club’s new shirt sponsor, but negotiations continued to break down. Chelsea even started the 2023/24 season without a shirt sponsor, before a one-year agreement with Infinite Athlete was finalised at the end of September 2023.
However, once the Infinite Athlete deal concluded last summer, Chelsea was unable to secure a front-of-shirt sponsor for the 2024/25 season.
As one of England’s most successful clubs over the last 20 years, Chelsea’s finances have remained strong; one year without a front-of-shirt sponsorship deal may not cause significant damage to its revenues.
The club, however, has been finding new ways to circumvent Profit & Sustainability Rules recently. Chelsea’s financial year, ending 30 June 2024, confirmed the sale of its women’s team to one of its parent owners, BlueCo.
This sale saw Chelsea turn around what was about to be a pre-tax loss of £90m, into a pre-tax profit of £128.4m.
