The LaLiga football club, Atlético Madrid have signed a multi-year sponsorship deal with the Singapore-based asset management firm, Amber Group.
The deal foresees that Amber Group’s cryptocurrency division, WhaleFin will serve as the club’s front-of-shirt sponsor. The partnership is termed for five years and will expire after the 2026-27 season. According to sources, the deal is worth nearly €200 million ($204 million).
The crypto firm will replace Plus500, an Israel-based online trading platform, whose contract with the LaLiga club expired at the end of last season. Since 2017, Plus500 has been the club’s primary sponsor, paying between €15 million to €17 million each year.
As a result of the collaboration, Amber Group will also become Atlético’s official global and principal partner, as well as the club’s only official digital wealth and lifestyle partner.
This is the crypto firm’s second major European sponsorship, after recently signing a deal with the Premier League club, Chelsea.
Miguel Ángel Gil, Chief Executive Atlético Madrid, said, “Today is a significant day for the future of Atlético de Madrid, as we join forces with a global leading company in the digital finance space. This partnership aligns with our desire to evolve digitally and being able to offer better, more superior digital experiences to our fans. We wholeheartedly believe that Amber Group is the perfect partner to achieve this.”
Michael Wu, Amber Group Chief Executive, added, “This multi-year partnership is a monumental moment for Amber Group, and we are proud to be partnering with Atlético de Madrid. As we continue to work towards a more connected and inclusive global economy that promotes fair opportunity for all, we look forward to democratizing financial innovation and to creating opportunities for everyone to start on their digital asset journey.”