Hyundai Motor Company, Russian Owner of EPL Chelsea Suspends Sponsorship

Chelsea owner Roman Abramovich, known for his close ties with Putin
[Photo by Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] Hyundai Motor has decided to suspend its sponsorship of the English professional football club Chelsea, whose owner is Russian.

According to major foreign media on the 12th (local time), Hyundai Motor has reportedly suspended its contract with Chelsea, whose owner is Russian billionaire Roman Abramovich.

Hyundai Motor stated, "Given the current situation, we have decided to temporarily suspend marketing and communication activities related to Chelsea until further notice."

Since 2018, Hyundai Motor has placed its company logo on the sleeve of Chelsea's uniforms. According to The Guardian, Hyundai is known to sponsor Chelsea with an annual amount of 10 million pounds (approximately 16 billion KRW).

The Premier League board revoked Abramovich's director status as Chelsea's owner following the UK government's sanction decision. Abramovich, an 'oligarch' closely connected to Russian President Vladimir Putin, has recently been included in the sanction lists of the UK and other Western countries.

Before the sanctions were imposed, he announced on the 2nd of this month that he would sell the Chelsea club.

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