2 years ago
89 European football giant Liverpool FC is reportedly in discussion with a cryptocurrency firm to make the company its major shirt sponsor. The negotiation for the deal with the unnamed company is ongoing, and it could be concluded as early as the end of the present English football season. That means the company could start sponsoring Liverpool from next summer.
The Deal Is Reportedly Worth $70 Million In Two Years
The name of the crypto firm has not been disclosed to the public yet. But based on the nature of the deal and the football club involved, it could be a major or top crypto company.
While the sponsorship deal is likely going to earn Liverpool more than £70 million in two seasons, there are still issues with crypto regulatory oversight and environmental concerns.
This is not the first time an English Premiership club will have a sponsorship deal with a cryptocurrency company. However, it is the first time a crypto firm is being considered a major sponsor of any Premier League club. This makes it more controversial as the crypto industry is still battling regulatory issues.
It’s also coming when the English Football Association is looking to maintain a healthy capital investment from sponsors and owners of clubs in England. The FA is scrutinizing the sources of income from club owners to make sure that funds that go into the system are clean.
But if the deal is finalized, it will be a major statement and a positive situation for crypto adoption. Six English clubs have contracts with Socios, a crypto company that sells ‘fan engagement tokens.’ These include Everton, Crystal Palace, Aston Villa, Manchester City, Leeds United, and Arsenal.
Liverpool Sets To Launch Non-Fungible Tokens
Liverpool FC is also in talks with crypto firms regarding the launch of its non-fungible tokens (NFTs). The Digital network of coaching staff and players at Anfield was recently auctioned off by Sotheby’s for £57 ($74) each, totaling £9.8 million ($12.8 million).
Other crypto companies are also in partnership with different football clubs all over the world. Recently, digital asset trading platform Crytpo.com partnered with world football government body FIFA. Based on the partnership details, Crytpo.com will become the official sponsor of the FIFA World Cup Qatar 2022. The global football event will be held in Qatar from November 21 to December 18, 2022.
