12th March, 2022
Hyundai has compounded Chelsea Football Club’s woes, suspending its sponsorship deal with the club after its owner, Roman Abramovich was sanctioned.
Chelsea owner Abramovich has been sanctioned following the invasion of Ukraine by Russia.
Hyundai had signed a four-year deal with Chelsea to become a sleeve sponsor in 2018 in an agreement estimated to be worth around £50 million to the club.
A statement from the company said it has become one of the strongest partners in football over the years and the company supported the sport to be a force for good.
It said through its partnership with Chelsea FC, the auto company was proud supporters of the players, the fans and grassroots football.
“However, in the current circumstances, we have taken the decision to suspend our marketing and communication activities with the Club until further notice,” Hyundai stated.