The growing relationship between cryptocurrency and football is reshaping sports sponsorship, with Italy’s Serie A leading the way.
AC Milan has partnered up with tg casino, a Telegram-based crypto casino, which became the club’s official regional iGaming partner in August 2024.
This partnership offers AC Milan fans exclusive access to behind-the-scenes tours at the Milanello training ground and VIP experiences at the San Siro stadium, and fans holding TG. Casino’s $TGC tokens stand to gain the most.
Holders of the tokens can enjoy several benefits, including behind-the-scenes tours of the Milanello training ground to VIP experiences at the iconic San Siro stadium.
By partnering with AC Milan, TG. Casino expands its brand presence in the competitive iGaming market.
It’s not just Italian football that follows this trend; with sponsorship negotiations for the 2024–25 season hitting record highs, the English Premier League has also welcomed cryptocurrency partnerships, contributing about £130 million to the league.
This change is quite a shift from gambling sponsorships, which have been a major source of revenue for many Premier League teams.
Clubs are eagerly looking for alternate revenue streams as a result of tighter gambling laws, which makes several crypto and Bitcoin start-ups appealing partners.
Part of this increase in crypto sponsorships is driven by clubs’ growing confidence in these financial firms.
A year ago, concerns about regulatory scrutiny made clubs hesitant to enter such partnerships, but now, with clearer regulations in place, they feel more secure.
Additionally, crypto companies have adjusted their strategies, focusing more on brand awareness rather than direct sales.
One deal that made headlines in the Premier League is Kraken’s partnership with Tottenham Hotspur.
As one of the world’s largest cryptocurrency exchanges, Kraken has become the official crypto and Web3 partner for Tottenham in the 2024/25 season.
This partnership goes beyond simply displaying the Kraken logo; it aims to use Web3 technologies to create new avenues for fan interaction, such as virtual experiences and blockchain-based rewards programs.
Another significant deal involves Manchester City and OKX, a well-known crypto exchange.
Valued at $70 million, this partnership highlights the substantial investments crypto companies are willing to make to align with top-tier football clubs.
With Manchester City’s strong international presence, OLX stands to improve its visibility in key markets.
Not all crypto-related sponsorships are with top clubs, however, as Nottingham Forest has partnered with Floki, a cryptocurrency token inspired by Elon Musk’s Shiba Inu dog.
This collaboration highlights the diverse range of crypto companies eager to enter the sports world, from major exchanges to niche tokens.
Floki aims to leverage football’s global popularity to draw attention to its offerings and enhance its brand visibility within the competitive cryptocurrency market.
Crypto sponsorships are reaching beyond individual clubs to embrace major competitions.
Crypto.com has secured a sponsorship deal with UEFA’s Champions League that runs until 2027, highlighting the crypto industry’s ambition to align with Europe’s elite football tournaments.
This high-profile partnership gives crypto brands a place in the global football narrative, potentially exposing them to millions of fans worldwide.
Despite this growing trend, some Premier League clubs are approaching crypto partnerships cautiously.
The volatile nature of the cryptocurrency market has led many clubs to include protective clauses in their contracts, such as upfront payments and exit options in case of reputational harm.
These measures reflect an understanding that while crypto sponsorships can be lucrative, they also carry risks due to market fluctuations and potential regulatory issues.
The timing of these partnerships is particularly significant as the Premier League prepares for a ban on front-of-shirt gambling advertisements set for the 2026/27 season.
In the 2023/24 season, eight Premier League teams had front-of-shirt gambling sponsors that generated nearly $80 million annually.
With gambling sponsorships declining, cryptocurrency firms are seen as potential solutions to fill this financial gap.
However, not all Premier League teams have jumped on the crypto bandwagon.
Clubs like Brighton & Hove Albion, Brentford, Fulham, Ipswich, Liverpool, and AFC Bournemouth currently do not have crypto-related sponsors for the 2024/25 season.
Some have shown interest in exploring such partnerships in the past, indicating that the landscape may change as the season progresses.
These partnerships often extend beyond financial backing; cryptocurrency companies aim to leverage blockchain technology to enhance fan engagement and create new revenue streams for clubs.
Some collaborations involve fan tokens or NFTs, providing supporters unique ways to connect with their favourite teams.
As the 2024/25 Premier League season unfolds, the impact of these crypto partnerships will become clearer.
Clubs and their sponsors will closely monitor fan reactions and regulatory developments while assessing how well these collaborations perform.
The success of these partnerships could serve as a model for future deals and influence how other sports leagues approach crypto sponsorships.
