Based on SportsQuake data, crypto companies have spent a record amount of around $170 million on sponsorship deals with Premier League clubs for the 2024/2025 season.
Sponsorships from crypto companies are flooding into the pockets of Premier League clubs, according to a Bloomberg report on October 7.
Cryptocurrency companies have seized the opportunity by partnering with soccer leagues for the first time as leagues prepare to adjust to tighter regulations regarding gambling sponsorships.
Data from sports sponsorship agency SportQuake reveals that the value of sponsorships from crypto companies has increased by nearly 30% compared to last year's sponsorships.
Sportsquake CEO Matt House said the club was more confident in doing business with crypto companies compared to last year, when rules around crypto marketing were tightened.
Meanwhile, crypto companies have become “more secure about what they can do.”
“We're just using the Premier League to drive our brand message, not really drive our direct sales message,” House told Bloomberg.
One of the most notable partnerships between cryptocurrency companies and soccer clubs occurred in July 2024, when Kraken announced a partnership with Spanish soccer club Atlético de Madrid and created a cryptocurrency exchange. has become the official cryptocurrency and Web3 partner of the Madrid-based club.
As part of the deal, the Kraken logo will appear as the official sleeve partner of Atlético's men's and women's teams next season.
Another cryptocurrency exchange, OKX, signed a deal last year to sponsor reigning Premier League champions Manchester City. Meanwhile, cryptocurrency ecosystem Floki has announced its sponsorship of Nottingham Forest.
In August, Crypto.com announced that it would sponsor the European Football Confederation's Champions League.
Cryptocurrency sponsorship changes the terms of soccer partnerships
A growing number of football clubs are accepting sponsorships in the form of cryptocurrencies, but contracts reveal that they are still proceeding with caution.
A lawyer for Charles Russell Speechlis told Bloomberg that newer entrants to the soccer world, such as cryptocurrency companies, will need to pay upfront fees.
In addition, contracts may include standard clauses to protect against reputational damage, allowing the club to sever ties with a company if it deems there is a significant risk.
As a safeguard, the rights holder may seek a letter of credit or guarantee from a bank or parent company before securing a transaction.
Cryptocurrency companies are on the rise when it comes to soccer sponsorship, but some clubs are still adamant about retaining sponsorship from the gambling industry.
Bournemouth, Crystal Palace and Aston Villa are among the football clubs that have signed new sponsorship deals with betting companies this year, despite the upcoming ban.
