Li Ka-shing backed mobile group Three suspends Chelsea sponsorship, as Abramovich sanctions bite
- Three pays about £40 million a year for the right to have its logo displayed on the players’ jerseys
- Three is the first major brand to break ranks on the issue. Hyundai is assessing its partnership with Nike yet to comment on the issue
The deepening crisis swirling Chelsea Football Club has seen top-tier sponsor Three mobile pull its support for the club after Russian owner Roman Abramovich was sanctioned by the UK government.
Three, owned by Li Ka-shing’s holding company CK Hutchison Holdings, pays about £40 million (HK$409 million) a year for the right to have its logo displayed on the players’ jerseys.
Chelsea have been asked to remove the 3 logo from the front of their playing kit and around the stadium until further notice.
“In light of the government’s recently announced sanctions, 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,” Three said in a statement.
“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’s departure is a significant move and is said to be causing a ripple effect among other sponsors including Hyundai.
The club’s biggest sponsor Nike, which signed a 15-year deal worth £900 million in 2016, has yet to comment, but the company has already paused its operations in Russia.