Get ready for a shake-up in the world of Premier League sponsorships! With gambling ads set to vanish from team jerseys by mid-2026, crypto companies are swooping in to keep the cash flowing. According to a recent report, Premier League clubs are in for a treat, raking in an eye-popping $170 million from crypto sponsors for the 2024/25 season.
The crypto craze is sweeping across the football field as teams look for new revenue streams due to tighter gambling restrictions. Who's leading the charge? Big players like Kraken, which has teamed up with Tottenham Hotspur, Atlético Madrid, and RB Leipzig. Meanwhile, Manchester City has extended its partnership with OKX, a deal that's worth a whopping $70 million over three years!
And it's not just the Premier League that's catching crypto fever. Crypto.com is making waves across the pond, signing up to sponsor UEFA’s Champions League until 2027. Even Turkey's Galatasaray is getting in on the action, inking a $4 million deal with blockchain analytics firm Arkham Intelligence for their shirt sleeves.
With gambling ads on the way out, these crypto partnerships are changing the sponsorship game. It's a move that could redefine sports marketing, especially after the “whistle-to-whistle” ban on gambling ads during live matches. Previously, eight teams pocketed nearly $80 million annually from these gambling deals.
As legal experts point out, crypto firms are stepping in as gambling sponsorships take a backseat, and this could be a bid to polish up the digital asset industry's image after a wave of scandals. It's a crypto revolution on the football field, and it's just getting started!
