The renowned Spanish football club Atletico Madrid is reportedly gearing up to take legal action against WhaleFin, a Singapore-based cryptocurrency exchange.
The dispute centers around a breach of contract involving unpaid sponsorship fees amounting to €40 million ($44 million).
Atletico Madrid Seeks $21 Million in Damages in Lawsuit
Atletico Madrid, the esteemed Spanish football club, is preparing for a legal battle with WhaleFin, a Singaporean cryptocurrency exchange, over a €40 million unpaid sponsorship deal.
The club, which entered a five-year agreement with WhaleFin for the 2022/23 season, claims the company has breached the contract terms by not fulfilling payment obligations. In response, Atletico Madrid is seeking €20 million in damages.
The backdrop to this legal challenge involves the financial struggles faced by Amber Group, the owner of WhaleFin. Reports from December 2022 highlighted Amber Group’s difficulties, leading to the termination of a similar sponsorship d
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