Premier League clubs have secured a record $170 million from crypto sponsors for the 2024/25 season. This represents a major shift in revenue sourcing in light of tightening gambling sponsorship restrictions.
The Rise of Crypto Sponsorships
According to a Bloomberg report on September 7, leading clubs such as Tottenham Hotspur, Atlético Madrid, and RB Leipzig have signed major deals with crypto platforms including Kraken. Manchester City has extended its partnership with OKX in a $70 million, three-year deal. Meanwhile, Crypto.com has signed a long-term partnership with UEFA for the Champions League.
Replacing Gambling Sponsors with Crypto Companies
As clubs shift towards crypto sponsorships, they are compensating for the loss of gambling sponsorship revenue. With a ban on gambling ads on the front of shirts set for mid-2026, these partnerships have become crucial.
Consequences and Prospects
Critics assert that the move towards crypto is partly driven by the need to repair the industry's image after scandals such as the collapse of Three Arrows Capital and FTX. Meanwhile, not only top clubs are seeking new partnerships: Turkish side Galatasaray has signed a $4 million deal with Arkham Intelligence.
These new partnerships with crypto companies have become an essential part of Premier League clubs' strategies for maintaining financial stability amidst evolving advertising and sponsorship regulations.
