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Crypto and sports deal at the interaction of sports, business and technology.
Leading crypto exchange, OKX made sports sponsorship with English Football club Manchester City. Crypto exchange company announced on Sunday, 10 July, about the deal with Man City. It said that the recent agreement is an expansion of their existing partnership. This deal has now made crypto exchange an official training kit partner of the English football club for 2022-2023 season.
More About OKX and Manchester City Deal
Details about financial terms were not officially disclosed by any of the two entities. But several reports estimated the figure to be around $20 million. As per the sports deal between OKX and Manchester City, crypto exchange’s logo will be featured on training gear of players at the football club.
Additionally, the deal will also cover the features of selected players from the club in crypto education content. The OKX sport sponsorship deal with Manchester City will last until mid 2023. Although, this is not the first time that OKX and Manchester city came together.
Not the First Encounter
Earlier in March, Seychelles based crypto firm was entitled as official cryptocurrency exchange partner of Premier League Champion football club. This was the first time when OKX stepped into some sports sponsorship deal. The deal had ensured presence of the crypto company at venues of Manchester City and its esports operations.
Sponsorship deals of crypto exchanges with some sports entities works turns out profitable for both of them. Companies get enough marketing and eyeballs that help them build their brand. While on the other hand, sports teams receive funds that make them flourish.
The OKX deal with Manchester City has also similar expectations given the football club is one of the top performers across the English Premier League and it has won the 2019-2020 season of EPL. Moreover, the Bradford based football club is preparing to take its performance to a different level. Example of such an effort came out when Manchester City signed famous Norwegian star footballer Erling Haaland.
OKX was founded in 2017 and became one of the leading crypto exchanges in the crypto space. The crypto exchange is headquartered in Seychelles, East Africa and is said to have approximately 20 million customers across the globe.