After finishing last in their Champions League group and crashing out of all European competitions, Atlético Madrid, lost out on up to €40m in potential revenue.
Now, Los Colchoneros are facing even more economic problems. Diario AS reports Atleti’s main shirt sponsor, WhaleFin, are looking to pull out of their deal with the club from the capital. The sponsor agreement was set to bring in €40m per season for five years.
WhaleFin, and its parent company Amber Group, provide tools for modern investing and trading cryptocurrency. With the present state of crypto, however, WhaleFin is finding itself in its own financially troublesome situation.
Chelsea are also sponsored by the same company, although with a less prominent role as a shirt sleeve sponsor. WhaleFin’s agreement with the Blues looks set to come to an end as well.
Atlético had begun to take some measures to account for their financial difficulties, such as the sale of Matheus Cunha, but this unforeseen development will cause even more problems.
Nicolás Antúnez de Mayolo | GSFN