Chelsea approach £120m dilemma that impacts Enzo Maresca transfer plans

For the third season in a row, Chelseahave started without a front-of-shirt sponsor. It means that theClearlake Capital-Todd Boehly ownership have still not negotiated a primary deal for the opening game of a campaign since they arrived.

In 2022/23, Chelsea started with Three as their main sponsor but that was the final year of an initial three via an agreement which started under Roman Abramovich's tenure. Chelsea have had two temporary front-of-shirt sponsors in the meantime.

In 2023/24 they added Infinite Athlete to their extensive lit of partners, but that came three games into the season after a protracted summer of trying to find a suitable alternative to Three. Chelsea did submit proposals to the Premier League only for them to be blocked.

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It had been obvious for much of 2023 that the mobile giants would not be continuing, especially in the wake of the UK government's sanctioning of Abramovich. At that point, with alleged ties to Vladimir Putin and his Russian invasion of Ukraine, Three attempted to distance themselves from Chelsea.

It proved a deeply unpopular decision with supporters, who felt that Three were jumping ship. They had made a good impression to begin with and Chelsea are ultimately still looking to find a viable long-term company to promote themselves with all teams and kits across the club.

Chelsea had gotten huge backlash when it emerged that Stake, a controversial online gambling and casino company, were in talks. That fell through.

At the end of last season, Chelsea signed a short-term deal with DAMAC, a Dubai-based property development group that now builds exclusive club-related experiences in the Middle East. DAMAC paid Chelsea around £1million per match between the start of May and June.

They did not carry over to the Club World Cup. Chelsea have since been in more discussions to find their ideal front-of-shirt sponsor but nothing has been finalised.

With Champions League football to offer - something that was missing in 2024/25, hence why Chelsea were retiscent to commit themselves to a lower price on a multi-year deal - and the new flex of being world champions, their bargaining position is now much stronger. However, with a £40-60million black hole in the accounts, questions will be asked yet again.

Chelsea have done impressive work to find niche partners across areas of the club that had previously been untouched but nothing is as lucrative as the front-of-shirt deal. Three paid £120million across three years, coming in at £40million per season.

That is the benchmark for Chelsea but other Premier League clubs have bigger ones which they are aspiring to meet and even better. As the season kicks off, Chelsea now run a risky game.

The strong position they put themselves in over the summer could quickly diminish if Enzo Maresca's men start slowly. It could put Champions League qualification past this season in early jeopardy and therefore cost them in negotiations.

Chelsea would back themselves to be in the top four/five again come May but when it comes to the brutal nature of football business, this must all be taken into account. All the while, Chelsea are potentially missing out on millions that could prove beneficial.

They have had to, in some ways, cover for money lost by not having a regular front-of-shirt sponsor. The payments are included and count towards revenue which impact the profitability and sustainability results.

Chelsea have sold hotel buildings and their own women's team (in a strategic repositioning) to aid their position and stay on the right side of the line. They have also sold numerous Cobham graduates (who count as pure profit on the books).

This all impacts the transfer freedom and possible spending. Front-of-shirt sponsors are essentially free cash that most teams never go without.

There is now pressure on Chelsea to get another one over the line at an appropriate price but also in good time to avoid missing out.