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The club, co-owned by Peter McCormack and backed by the Winklevoss twins, will receive payments in Bitcoin as part of the deal.
Gemini, the well-known cryptocurrency exchange, just announced a five-year sponsorship deal with Real Bedford, a football club in Bedford, England. The entire sponsorship payment will be made in Bitcoin (BTC) and invested into Real Bedford’s Bitcoin treasury.
The club has boldly integrated crypto into its financial operations. As a result, players can now receive cryptocurrency payments, and fans have the option to buy tickets and merchandise using Bitcoin.
“By integrating Bitcoin into our treasury, we have achieved a +62% return, thereby strengthening the club’s financial position and protecting our cost base against the recent surge in inflation,” said owner Peter McCormack in a statement.
The Bitcoin transaction will be paid in advance and is intended to aid the club in achieving success and improving prospects for youth in the local area. Real Bedford has strong ambitions to qualify for the Premier League.
Real Bedford FC and crypto
In April this year, Cameron and Tyler Winklevoss, founders of Gemini, became investors in Real Bedford Football Club.
The brothers put $4.5 million worth of Bitcoin into the football club as part of a transaction facilitated through Winklevoss Capital, their investment firm. The Winklevoss twins became co-owners of the club with this investment, joining McCormack who bought Real Bedford in 2022.
The Winklevoss twins recently donated $2 million in Bitcoin to support Donald Trump’s 2024 campaign and criticized the Biden administration’s handling of cryptocurrency regulations.