The Rise of Crypto Sponsors in the Premier League

The English Premier League (EPL) has witnessed a significant surge in investment from cryptocurrency companies, leading to the replacement of gambling companies and the expansion of sponsorship options. The value of crypto firms’ sponsorships for the 2024/25 season has surged to £130 million ($170 million), reflecting their growing partnership with EPL teams. This is a significant increase from the £13.8 million spent in the 2020/21 season, as the ECL’s demand for crypto sponsorship continues to be one of the highest in Europe.

Crypto companies are showing a growing interest in partnering with EPL teams, as evidenced by the £43 million spent in the 2022/23 season and £101.5 million in that same season. The ban on gambling sponsors from being part of EBL team jerseys starting from the 2019/20 season is driving the increasing number of crypto sponsors. Crypto companies are taking advantage of the opportunity presented by gambling firms, which have historically dominated the Premier League sponsorship market.

A number of prominent crypto companies have already established significant partnerships with EPL teams. Examples include Kraken and OKX, central exchanges for London-based footballers, and Layer-1 blockchain Tezos, among others.

The trend of crypto companies sponsoring teams in top leagues is not limited to the Premier League, as seen in the German Bundesliga and Spanish La Liga. The sports sponsorship market is becoming more popular among crypto businesses, with Formula One having a $100 million partnership with Crypto.com in 2021. A 2-year sleeve deal worth €1.8 million has been signed by Arkham Intelligence, a crypto data analytics firm, and Turkish football giant Galatasaray. Additionally, Whale Fin, an unrestricted lending protocol, has partnered with arguably the most successful EPL team in recent history, although the details of the deals are still unknown.

Why Crypto Companies are Investing in Sports Sponsorships

Cryptocurrency firms aim to increase brand awareness and establish credibility among a wider audience, particularly retail customers who may be skeptical about the legitimacy of crypto businesses. By forming partnerships with top-tier football clubs, crypto companies can gain access to the vast global following of Premier League and other elite leagues, which in turn strengthens their brand image and promotes trust among potential customers. Conversely, these alliances offer an opportunity for crypto firms to target specific markets where they could sell their services.

The popularity and commitment of football fans make them a desirable group for companies to target in order to gain exposure. As the crypto industry matures, it is likely that partnerships between crypto companies and sports teams will continue to grow.

Want to learn more about the intersection of cryptocurrency and sports? Check out this article on CoinSeeks.com, which provides valuable insights and information on the topic.

The Future of Crypto-Sports Partnerships

While the impact of these partnerships on the crypto industry is not yet clear, it is likely that the growing partnership between crypto firms and EPL teams will be closely monitored in the future.