Hyundai announces it is suspending its sponsorship with Chelsea

Hyundai car company has suspended its sponsorship agreement with Chelsea due to the situation the club is experiencing with its owner, Roman Abramovichwhich has been sanctioned by the British Government.

Hyundai is the second sponsor that Chelsea has lost, along with the three Telephone Company, who announced this week that he is temporarily canceling the 40 million per season contract that binds him to the club.

Hyundai, whose logo appears on the sleeves of the club’s shirtssaid in a statement that throughout their idyll with Chelsea they have supported the “players, the fans and grassroots football”, but that “in the current circumstances” they have made “the decision to suspend its marketing and communication activities with the club until further notice”.

The South Korean company is one of Chelsea’s 16 sponsors and the second to jump ship at a time of economic uncertainty at the Stamford Bridge club, which cannot generate revenue through ticket sales, merchandising and player operations and that he is waiting for a permit from the Government to be able to go ahead with the sale of the club.