Premier League Crypto Sponsorships Soar to £130M in 2024
Premier League clubs have secured nearly £130 million in sponsorship deals with crypto firms in 2024, signaling a surge in crypto market recovery and sports partnerships.
This growing number of sponsorships highlights the crypto market’s rebound after the 2022 collapse of several digital-asset companies and sharp declines in token values.
Crypto Firms Spend £130 Million on Premier League Sponsorships for 2024/25 Season
Bloomberg’s Monday report, featuring data from SportQuake, highlights that crypto firms have allocated nearly £130 million ($170 million) for Premier League sponsorships this season, representing a 30% year-on-year increase.
SportQuake reported that this figure is likely to increase further as additional deals are expected throughout the 2024/25 season.
One notable example is OKX renewing its partnership with Manchester City, the defending Premier League champion.
Additionally, the Winklevoss twins invested $4.5 million in UK-based football club Real Bedford in April, owned by crypto podcast host Peter McCormack.
Crypto sponsorships are also expanding across other European football leagues.
Newcomers like Kraken, a cryptocurrency exchange, have secured partnerships with clubs such as Tottenham Hotspur, Atlético Madrid, and RB Leipzig.
— Cryptonews.com (@cryptonews) August 14, 2024
https://t.co/U4D4dECttR and UEFA have signed a multi-year partnership deal that will see the crypto giant featured in stadiums and arenas across Europe.#crypto #UEFAhttps://t.co/MIu9fRBqxP
Meanwhile, Crypto.com continues to secure high-profile sponsorships, including a multi-year deal with the UEFA Champions League that extends through 2027.
UK Gambling Ads Ban Spurs Crypto Sponsorship Growth
For years, gambling ads have been a major revenue source for Premier League clubs, with betting companies prominently featured on kits and in stadiums.
However, concerns about the exposure of gambling ads to younger audiences prompted the UK to introduce tighter regulations.
In 2019, the “whistle-to-whistle” ban was implemented, which prohibits gambling ads from airing five minutes before, during, and after live sporting events.
Early data showed a 70% reduction in gambling ads viewed by younger audiences, with a total decrease of 1.7 billion ad views in just five months.
The restrictions will tighten further as Premier League clubs will no longer be allowed to display betting sponsors on the prime front-of-shirt spot starting in mid-2026.
As these gambling restrictions take effect, Premier League clubs are turning to alternative revenue streams.
Crypto firms have stepped in to fill this gap, eager to position themselves as key players in sports sponsorship.
The latest crypto deals focus on brand visibility, with logos displayed on pitch-side boards, kits, and stadium posters.
The post Premier League Crypto Sponsorships Soar to £130M in 2024 appeared first on Cryptonews.
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Premier League Crypto Sponsorships Soar to £130M in 2024
Premier League clubs have secured nearly £130 million in sponsorship deals with crypto firms in 2024, signaling a surge in crypto market recovery and sports partnerships.
This growing number of sponsorships highlights the crypto market’s rebound after the 2022 collapse of several digital-asset companies and sharp declines in token values.
Crypto Firms Spend £130 Million on Premier League Sponsorships for 2024/25 Season
Bloomberg’s Monday report, featuring data from SportQuake, highlights that crypto firms have allocated nearly £130 million ($170 million) for Premier League sponsorships this season, representing a 30% year-on-year increase.
SportQuake reported that this figure is likely to increase further as additional deals are expected throughout the 2024/25 season.
One notable example is OKX renewing its partnership with Manchester City, the defending Premier League champion.
Additionally, the Winklevoss twins invested $4.5 million in UK-based football club Real Bedford in April, owned by crypto podcast host Peter McCormack.
Crypto sponsorships are also expanding across other European football leagues.
Newcomers like Kraken, a cryptocurrency exchange, have secured partnerships with clubs such as Tottenham Hotspur, Atlético Madrid, and RB Leipzig.
— Cryptonews.com (@cryptonews) August 14, 2024
Meanwhile, Crypto.com continues to secure high-profile sponsorships, including a multi-year deal with the UEFA Champions League that extends through 2027.
UK Gambling Ads Ban Spurs Crypto Sponsorship Growth
For years, gambling ads have been a major revenue source for Premier League clubs, with betting companies prominently featured on kits and in stadiums.
However, concerns about the exposure of gambling ads to younger audiences prompted the UK to introduce tighter regulations.
In 2019, the “whistle-to-whistle” ban was implemented, which prohibits gambling ads from airing five minutes before, during, and after live sporting events.
Early data showed a 70% reduction in gambling ads viewed by younger audiences, with a total decrease of 1.7 billion ad views in just five months.
The restrictions will tighten further as Premier League clubs will no longer be allowed to display betting sponsors on the prime front-of-shirt spot starting in mid-2026.
As these gambling restrictions take effect, Premier League clubs are turning to alternative revenue streams.
Crypto firms have stepped in to fill this gap, eager to position themselves as key players in sports sponsorship.
The latest crypto deals focus on brand visibility, with logos displayed on pitch-side boards, kits, and stadium posters.
The post Premier League Crypto Sponsorships Soar to £130M in 2024 appeared first on Cryptonews.
Read More
US Federal Agencies Must Report Crypto Holdings to Treasury by April 7