Crypto companies have set a new record, spending nearly $170 million on sponsorship deals with Premier League clubs for the 2024/2025 season, according to data from SportQuake. This influx of sponsorship from crypto firms marks a 30% increase compared to the previous year, driven by tightening regulations on gambling sponsorships in the league.
As the Premier League prepares to implement stricter rules on gambling ads, crypto firms have stepped in, seizing the opportunity to establish partnerships with prominent football clubs. These deals reflect growing confidence on both sides—football clubs are increasingly open to collaborating with crypto companies, while crypto firms have become more comfortable navigating regulations around crypto asset marketing.
Matt House, CEO of SportQuake, noted the shift in approach. “We’re using the Premier League to build brand awareness, not for direct sales messaging,” House explained to Bloomberg, emphasizing how crypto firms are positioning themselves in the sports world.
Among the notable crypto partnerships is Kraken’s July 2024 deal with Atlético de Madrid. Kraken became the Spanish club’s official crypto and Web3 partner, with its logo featured on the team’s sleeves for both men’s and women’s teams. Other major crypto players in football include OKX, which sponsors Manchester City, and Floki, which backs Nottingham Forest. In August, Crypto.com also announced its sponsorship of the prestigious UEFA Champions League, further solidifying crypto’s presence in football.
Changing the Terms of Football Sponsorships
Despite the surge in crypto sponsorships, contracts reveal clubs are proceeding with caution. According to lawyers from Charles Russell Speechlys, newer entrants like crypto firms are often required to pay upfront, and contracts may include clauses allowing clubs to cut ties if there is a risk of reputational harm. Some deals also require letters of credit or guarantees from banks or parent companies to mitigate risks.
While crypto sponsorships are on the rise, some Premier League clubs continue to stick with gambling sponsors despite the upcoming ban. Bournemouth, Crystal Palace, and Aston Villa are among those that have renewed deals with betting companies for the current season.
As regulations shift and the gambling ban approaches, crypto sponsorships are expected to continue growing, reshaping the landscape of football partnerships in the Premier League. The combination of crypto and football is fast becoming a key driver of brand exposure, engagement, and fan interaction in the sport’s evolving commercial ecosystem.
