Bundesliga side RB Leipzig is one of several prominent international football clubs with cryptocurrency sponsorship Getty Images
According to sources cited by Emily Nicol of says more partnerships are announced frequently and “more are likely.” Bloomberg News. For Premier League teams working on gambling regulations, promoting cryptocurrencies is an “opportunity to develop new sources of income.” Major deals are taking place across the continent, with many companies “partnering with football leagues for the first time”. Debut partners in 2024 include cryptocurrency exchange Kraken, which sponsors Tottenham Hotspur, La Liga’s Atlético Madrid and Bundesliga’s RB Leipzig. The focus of the deal is “extensive brand promotion, including pitch-side storage, stadium posters and the company’s logo and name on team kits.” Sponsors will become the team’s “cryptocurrency and Web3 partners” and can provide “behind-the-scenes access to competitions, games and exclusive content.” The volatility and scandals plaguing cryptocurrencies are also “impacting the terms” of trading. While sponsors in sectors with a longer history or a better reputation may be more likely to pay for a deal over time, “new entrants, especially those in the cryptocurrency space, are more likely to be asked to pay upfront.” It’s true.” Contracts may also include “boilerplate clauses” regarding significant reputational damage, which allow teams to “exit the contract in the event of a sudden decline in the company’s standing.” And to further protect themselves, rights holders can “seek letters of credit or guarantees from banks or parent companies to secure the transaction” (Bloomberg News, 10/7).
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