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

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 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.

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.

Are there any logos you would like to see on Atlético's shirts next season? Comment below.