tl;dr
Premier League clubs have secured a record-breaking $170 million in sponsorship deals from crypto companies for the 2024/25 season, as gambling sponsorships face restrictions. Major clubs like Tottenham Hotspur, Manchester City, and Galatasaray have signed significant crypto deals. With a ban on fro...
Premier League clubs have secured a record-breaking $170 million in sponsorship deals from crypto companies for the 2024/25 season, as gambling sponsorships face restrictions. Major clubs like Tottenham Hotspur, Manchester City, and Galatasaray have signed significant crypto deals. With a ban on front-of-shirt gambling ads expected by mid-2026, crypto firms are stepping in to fill the sponsorship gap, signaling a shift in the sponsorship landscape. This move is seen as an effort to improve the image of the digital asset industry.
Per the report, several top clubs have already signed major crypto deals. For instance, leading crypto exchange Kraken is sponsoring Tottenham Hotspur, La Liga’s Atlético Madrid, as well as RB Leipzig from the German Bundesliga. Meanwhile, in June 2023, reigning Premier League champions Manchester City extended their partnership with OKX for three years in a deal that will cost the platform $70 million. Another crypto exchange, Crypto.com, is also heavily involved in football. The company, which owns the naming rights to the former Staples Center, hosting the Los Angeles Lakers and Los Angeles Clippers, among others, announced in August that it will sponsor UEFA’s Champions League until 2027. The crypto sponsorship influx isn’t limited to just the biggest names in the biggest leagues; Turkish side Galatasaray recently signed a two-season deal with blockchain analytics firm Arkham Intelligence, worth about $4 million, to have its logo featured on the team’s shirt sleeves.
For PL clubs, these partnerships mark a major shift in the sponsorship landscape, especially with a looming proscription on front-of-shirt gambling ads by mid-2026. This is in addition to a 2019 “whistle-to-whistle” ban on gambling ads during live matches. During the 2023/24 season, eight teams had front-of-shirt gambling sponsors, collectively earning them nearly $80 million per year. However, according to Daniel McDonagh, an associate at UK law firm Charles Russell Speechlys, who was quoted in the Bloomberg report, crypto firms are now stepping in to fill the vacuum caused by the limitations on gambling sponsorship. Some feel the move is part of efforts to clean up the image of the digital asset industry following the bad press that came with the collapses of several high-profile enterprises, including Three Arrows Capital (3AC), Voyager Digital, and FTX.
More about Planet Labs PBC
Company: Planet Labs PBC
Industry: Manufacturing, Radio & TV Broadcasting & Communications Equipment
Revenue: $657,386,000
Net Income: -$0.47
EPS: 0.82
PE Ratio: -0.577
Market Cap: $235,764,000
Dividend Yield: 3.96%
Beta: 0
Volatility: 0.136