Parimatch suspends Chelsea FC sponsorship amid Russian owner sanctions

Sports betting company Parimatch has suspended its sponsorship of English pro soccer team Chelsea. The existing deal, which led to Parimatch being the club’s “official product tech partner” since 2021, follows sanctions placed by the UK government on Russian businessman and team owner Roman Abramovich amid the Russian invasion in Ukraine.

“After considering the situation, we have decided to pause all joint marketing and brand campaigns with the club featuring the Parimatch logo and brand,” the business stated. “Together with our licensed partner in Great Britain, we have agreed to use the LED display systems at Stamford Bridge exclusively for the promotion of our volunteering and donation activities to help Ukraine, which Chelsea FC are supportive of.”

The announcement builds upon other measures taken by the company in light of the Russo-Ukrainian war. Earlier this month, the business decided to withdraw the Parimatch trademark from the Russian Federation, one of its key markets.

“The brand has already been removed from key resources, and some negotiations are still underway with a number of websites and platforms to remove any left mentions,” the business said on March 9. “Moreover, we stopped all software developments, improvements, and operational process support.”

We consider it necessary to comment on the message about the "rebranding of Parimatch Russia". Parimatch Tech, as the owner of the Parimatch trademark and software, does not conduct any rebrandings on the territory of the RF; on the contrary, our brand leaves the market. pic.twitter.com/1Q8jBtR50W

— Parimatch (@ParimatchGlobal) March 10, 2022

The company has also made efforts to support Ukraine, with the Parimatch Foundation launching a charitable fundraiser to help purchase and deliver food, medicine, and the evacuation of residents. The company has also spent more than $1 million to assist Ukraine’s military.

Parimatch was founded in Kyiv, Ukraine, in 1994, although it is now headquartered in Limassol, Cyprus. The company first entered a three-year official partnership agreement with the English Premier League club in August 2021 through Parimatch Tech, which develops tech and marketing solutions for the global industry and the Parimatch brand.

The deal between both parties included, among its features, the display of the brand’s logo on LED systems at the Stamford Bridge stadium, as well as granting the sports firm the right to leverage the club’s digital, social and logistical assets.

Parimatch Tech has increased the amount of assistance to Ukraine to UAH 60 million 🇺🇦

The first UAH 42 million has already been spent, so the next UAH 18 million will also be spent on humanitarian aid and the needs of the country's defenders.

More on the infographics: pic.twitter.com/NGZXdNRmwj

— Parimatch Tech (@ParimatchTech) March 16, 2022

Parimatch is not the first sponsor to cease its ties with Chelsea due to its owners' ties to the Russian government. The club’s main jersey sponsor, mobile network Three, ditched their agreement last week, and automotive manufacturer Hyundai has also suspended its relationship with the team. 

Abramovich has been targeted by the UK government, which put the Russian billionaire on a list of sanctioned businessmen. His position on the club’s board of directors has also been suspended by the league, which led Abramovich to put Chelsea up for sale, a deal that could be worth at least £3 billion ($3.95 billion).

Additionally, sanctions have been imposed onto the club itself, with Chelsea now unable to sign players, renew contracts or sell match tickets or merchandise until a new owner for the team is found. However, given an asset freeze in place, Abramovich would only be able to sell the club if he does not profit from the transaction.