Gazprom inks sponsorship deal with Chelsea

Russian energy giant Gazprom has inked a three-year sponsorship deal with Roman Abramovich-owned Chelsea football club.

The contract announced late Tuesday commits the company, which is half-owned by the Russian, to supplying gas and electricity to the European champions.

Neither side disclosed the value of the deal, which comes just over a week after Gazprom became an official UEFA Champions League sponsor.

“This is another very exciting global partnership for the club, and demonstrates the ever-growing appeal of Chelsea FC,” the club quoted chief executive Ron Gourlay as saying.

“Our huge fan base around the world will help Gazprom reach their key markets in Europe and Asia, while we will benefit from their support in developing further our wide-ranging CSR programs,” he said, referring to corporate social responsibility.

Abramovich’s spending sprees in recent seasons have meant Chelsea are struggling to meet UEFA financial fair play targets.

The regulations encourage clubs to be self-sufficient, spending only what they generate in revenue.

Abramovich sold his stake in oil giant Sibneft to Gazprom in 2005.