South Korean car giant Hyundai has become the latest high profile sponsor to pull the plug on their existing deal with Chelsea after the club’s oligarch owner Roman Abramovich was today disqualified as a director by the Premier League

This Post: South Korean car giant Hyundai has become the latest high profile sponsor to pull the plug on their existing deal with Chelsea after the club’s oligarch owner Roman Abramovich was today disqualified as a director by the Premier League

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South Korean car giant Hyundai has become the latest high profile sponsor to pull the plug on their existing deal with Chelsea after the club’s oligarch owner Roman Abramovich was today disqualified as a director by the Premier League. 

Chelsea’s current sleeve sponsors, who were in the final year of their £50million deal, released a statement on Saturday in which they confirmed they had suspended ‘marketing and communications activities’ with the west London club. 

A Hyundai spokesperson said in a statement: ‘In the current circumstances, we have taken the decision to suspend our marketing and communication activities with the Club until further notice. 

Hyundai has been Chelsea’s ‘official global automotive partner’ since 2018. 

The developments come as the Premier League today disqualified Mr Abramovich from running Chelsea after the Russian was sanctioned by the  over Vladimir Putin’s illegal invasion of Ukraine. 

‘The board’s decision does not impact on the club’s ability to train and play its fixtures, as set out under the terms of a licence issued by the Government which expires on 31 May 2022,’ the league said.  

The Government claims the Russian oligarch, who has owned Chelsea since 2003, received financial benefits from the Kremlin – including tax breaks for his companies, the buying and selling of shares from and to the state at favourable rates and contracts in the run up to the 2018 World Cup in Russia, it was claimed. 

The New York Merchant Bank the Raine Group has also agreed to Chelsea’s sale proceeding with Government approval, it’s understood. 

<div class="art-ins mol-factbox news floatRHS" data-version="2" id="mol-3b4d9fe0-a202-11ec-9403-f947c26db21d" website Abramovich has been disqualified as a director of Chelsea