Atlético Madrid secures shirt deal worth $42m annually
Atlético Madrid has confirmed a multiyear shirt sponsorship deal with cryptocurrency exchange platform WhaleFin worth $42.3 million annually.
WhaleFin will take over from trading platform Plus500 at the start of the 2022-23 season following the expiration of the Israel-based company’s contract this offseason.
Plus500 reportedly paid $17 million per year.
WhaleFin parent company The Amber Group will be a digital wealth partner.
Its deal includes branding at Estadio Metropolitano, Atletico’s home field since 2017.
Atlético — the 13th-most valuable soccer team in the world at $1.5 billion has had success on the pitch, finishing third in La Liga this past season and being crowned champions in 2021.
The club has generated $396 million in revenue in 2022, up from $368 million in 2021. However, Atlético has an operating income of only $45 million, compared to $62 million last year.
Atlético joins other top-flight soccer clubs like P.S.G and Liverpool in securing new shirt deals.
In June, Paris Saint-Germain secured a deal with Qatar Airways worth as much as $72 million per year.
The same month, AC Milan extended its deal with Puma, which will reportedly pay Milan $31.5 million per year under a five-year contract.
Earlier this month, Manchester United entered a shirt-sleeve deal with IT firm DXC Technology, while its Premier League rival Liverpool is in talks for a shirt deal that could fetch a record $100 million per year with Standard Chartered originally paying Liverpool $25 million annually.
