Hyundai suspends deal due to Abramovich sanctions

Hyundai suspends deal due to Abramovich sanctions

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12 Mar 2022
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chelsea

Chelsea was thrown into crisis when their owner saw its assets frozen amid the Russian invasion of Ukraine.

 

A little about the topic

Hyundai has become the latest Chelsea sponsor to suspend its ties with the club since the UK government announced sanctions against Abramovich. Chelsea is under tight operating restrictions after Roman Abramovich’s assets in the country were frozen on Thursday. And the carmaker has now followed shirt sponsor Three in ending its partnership with the club.

 

Company statements

The company’s statement on Saturday explained that Hyundai has become one of the strongest partners in football over the years and the company is supporting the sport to be a force forever. The statement also says that through their partnership with Chelsea FC they are proud supporters of players, fans and grassroots football. However, under the current circumstances, they have taken the decision to suspend their marketing and communications activities with the club until further notice.

Hyundai’s decision comes after telecommunications giant Three announced that it would suspend sponsorship of Chelsea jerseys. A statement from the company stated that they had asked Chelsea Football Club to temporarily suspend their sponsorship of the club, including the removal of their branding from jerseys and around the stadium until further notice.

They acknowledge that this decision will affect the many Chelsea fans who follow their team passionately. However, they believe that given the circumstances and the current government sanctions, this is correct. Under the new government measures, Chelsea are also unable to sell tickets and open their club shops while all transfer activity has been halted.

Roman is currently looking to sell his stake in Chelsea, but was dealt a further blow on Saturday when the Russian Premier League suspended a Russian businessman from acting as director of the club, although Chelsea will be allowed to continue playing under license until May 31st.

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