EPL, U.K. won't intervene in Chelsea's BingX deal

The Premier League and U.K. government "have no plans to intervene" in Chelsea’s new $15.2M-a-year sponsorship deal with crypto company BingX. The firm, which inked a deal to become Chelsea’s shirt sleeve sponsor for the remainder of this season and training kit sponsor for the following two seasons, has described itself as "a steadfast supporter of the Russian crypto community." The U.K. government confirmed "there is nothing to suggest that BingX has any links to individuals or companies on the list of those who have been sanctioned following Russia’s invasion of Ukraine." The Premier League "does not have specific rules relating to Russia and takes its lead from the government’s sanction regime," which means "there is no reason for it to intervene in Chelsea’s new sponsorship deal" (London TELEGRAPH, 1/5).