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The landscape of sponsorship in the Premier League is undergoing a significant transformation as clubs secure nearly £130 million in partnerships with cryptocurrency firms for the 2024 season. This surge in sponsorship deals is indicative of a recovering crypto market and an increasing trend towards sports partnerships as traditional betting firms face growing restrictions.
Crypto Sponsorship Boom in Premier League
According to a report from Bloomberg, utilizing data from SportQuake, the Premier League has seen crypto firms allocate about £130 million (approximately $170 million) for sponsorships this season. This figure marks an impressive 30% year-on-year increase, signaling a robust interest in crypto sponsorship among clubs.
SportQuake further noted that this amount may still rise as additional sponsorship deals are anticipated throughout the 2024/25 season. One notable partnership is OKX’s renewed collaboration with Manchester City, the reigning Premier League champions. Additionally, the Winklevoss twins made headlines in April with a $4.5 million investment in Real Bedford, a UK club owned by crypto podcast host Peter McCormack.
Expanding Crypto Sponsorship in European Football
The trend of crypto sponsorships is not confined to the Premier League; it is also growing across other major European football leagues. New players like Kraken, a well-known cryptocurrency exchange, have successfully secured partnerships with several notable clubs, including Tottenham Hotspur, Atlético Madrid, and RB Leipzig. Recently, a multi-year partnership deal between UEFA and a crypto giant has also been announced, featuring the brand prominently in stadiums and arenas across Europe.
Furthermore, Crypto.com has established a strong presence in European sports with a multi-year deal sponsoring the prestigious UEFA Champions League, set to run through 2027. These agreements emphasize the increasing acceptance and integration of cryptocurrency firms in the sports sponsorship arena.
The Impact of Gambling Regulations on Sponsorship Dynamics
For many years, gambling advertisements have been a significant source of income for Premier League clubs, with betting companies highly visible on kits and in stadiums. Nonetheless, growing concerns regarding the impact of gambling ads on younger audiences have led to stricter regulations in the UK.
In 2019, the introduction of the “whistle-to-whistle” ban prohibited gambling advertisements from being aired five minutes before, during, and after live sports events. This regulatory change has shown early signs of effectiveness, with a 70% reduction in gambling ads seen by younger viewers and a total of 1.7 billion fewer ad views over just five months.
As the UK government tightens these restrictions further, culminating in a ban on betting sponsors prominently displayed on the front of shirts starting in mid-2026, Premier League clubs are actively seeking alternative revenue streams. In this evolving landscape, cryptocurrency firms appear poised to step in and fill the void left by traditional betting advertisers.
The latest wave of crypto sponsorship deals is geared towards enhancing brand visibility, featuring logos prominently on pitch-side boards, team kits, and stadium posters. This shift not only showcases the endurance and evolution of crypto in the face of regulatory challenges but also marks a new era for sports sponsorships.
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