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Crypto firms are making a big entrance into the Premier League this year, reaching an all-time high in the money spent on sponsorship deals. These firms, including high-profile crypto exchanges and decentralized finance platforms, aim to replace traditional gambling brands that are being ousted from appearing on the teams’ shirts.
Crypto Firms Set to Substitute Gambling as Leading Sponsor in Premier League
Crypto firms are targeting the Premier League as the next step to increase their visibility, as some have already completed sponsorship deals with football teams. The money in these deals has hit an all-time high for this season, registering an income of $170 million according to data from Sportsquake, a sports sponsorship agency.
This is part of the renaissance that crypto has faced since the fall of FTX, the cryptocurrency exchange that spent millions in sponsorships, including paying $135 million to rename the Miami Heat Arena to the FTX Arena. Crypto is now in a better spot, but sponsorship deals include clauses that protect the teams from these potential problems.
According to analysts, this new push to reach these soccer teams is related to a collective agreement to ban gambling sponsorships from teams’ t-shirts at the end of the 2025/2026 season. The ousting of these natural symbiotic sponsors from the league has left a hole that can be filled with crypto sponsors but with a focus on branding rather than their trading activities.
Sportquake CEO Matt House stated that the crypto regulatory crackdown has led to a freer environment in crypto marketing, allowing these firms to operate with relative stability.
He stated:
We’re just going to use the Premier League to drive a brand message, we’re not actually pushing direct sales messages.
Some exchanges already on board with Premier League teams include Kraken with Tottenham Hotspur and Okx with Manchester City, the current league champion. Crypto.com has also inked an agreement to become the crypto sponsor of the UEFA Champions League, which features the best European clubs. Analysts expect more deals to be announced as the season progresses.
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