Crypto Firm Whalefin to Cancel Atlético Madrid Sponsorship Deal Four Years Early

Feb 14, 2023

by Footy Headlines

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Sponsorship Cancellation: Crypto firm Whalefin is canceling their five-year, €40 million-per-season shirt sponsorship deal with Atlético Madrid after less than a year.
Financial Difficulties: Whalefin's cancellation is due to financial problems stemming from the volatile crypto market, leading to their withdrawal from both the Atlético and previously, Chelsea sponsorships.
Crypto Sponsorship Issues: This is the second instance of a crypto sponsor reneging on a major European football sponsorship deal, highlighting potential risks associated with the crypto sector.

Crypto firm Whalefin are to cancel their €40 million a season shirt sponsorship deal with Atlético Madrid, less than one year after signing it.

Whalefin to Cancel Atlético Deal

Just a few months after they backed out of their Chelsea sleeve sponsorship deal, cryptocurrency firm Whalefin are set to cancel the five year deal they signed with Atlético Madrid. Atlético have not received official confirmation of the cancellation from their sponsor yet, but Diario AS report that they are already on the lookout for a new main partner for next season.

Atlético unveiled their kits ahead of the 22-23 season without any sponsor logo.

WhaleFin End Chelsea Sleeve Sponsorship Deal, Atlético Madrid Next?

Dec 13, 2022

Whalefin cancelled their contract with Chelsea due to financial difficulties, so alarm bells were likely ringing since then for the Atlético board. The volatility of the crypto market is responsible for the firm's money problems, and this disruption will put more financial strain on Los Colchoneros, who are already out of pocket having been eliminated from the Champions League this season.

Atletico Madrid Sign WhaleFin Main Shirt Sponsor Deal - First Look At 22-23 Kits With Sponsor

Jul 12, 2022

Whalefin are the second crypto sponsor to renege on their sponsorship agreements, after Digitalbits failed to make even the first installment of their planned payments to Inter. Both Inter and Atlético will likely seek partners who operate in a different sector after their bad experiences with the crypto world.