The global trading platform eToro has just announced a sponsorship deal with seven English Premier League football clubs, and in a move that is a first of its kind, clubs will be paid for their advertising with Bitcoin.
Premier League makes crypto moves
In a move that is the first of its kind for top-tier clubs in English football, seven prominent teams will be paid in Bitcoin (BTC) for advertising space and sponsored player access. The clubs involved in the sponsorship are confirmed as Newcastle United, Tottenham Hotspur, Crystal Palace, Leicester City, Cardiff City, and Brighton and Hove Albion.
The snagging of high-profile clubs such as Tottenham, Newcastle, and recent Premier League champions, Leicester City, could end up playing a major role in exposing cryptocurrency to the eyes of the masses. The stadium at which Newcastle play their games, St. James’ Park, for example, has a seated capacity of over 50,000. That’s 50,000 people who will see little cryptocurrency symbols on the LED advertising boards every second weekend.
Details of the sponsorship deal are relatively scarce at the moment, but like most sponsor arrangements it is thought that it will also encompass player access. This means that before long we could see players flying the flag for crypto, or at the very least, eToro.
While the deal may be interpreted as a big win for eToro, the biggest impact may end up being felt more broadly, with a relatively unlikely crowd of football fans now being exposed to cryptocurrency.
The combined capacity in the stadiums across all the clubs mentioned exceeds 200,000, and this may end up doing more for crypto and blockchain awareness than any advertising campaign ever could.
Barry Webber, Commercial Director of Crystal Palace Football Club, celebrated the move and anticipates big things for blockchain in general:
“Blockchain technology is bringing exciting new opportunities to all areas of business sectors and we are delighted to welcome eToro as a partner so we can explore its potential in football.”
Gibraltar club pay in crypto
As covered here at CryptoCoin.News earlier in the month, Gibraltar United recently initiated plans to pay its players in cryptocurrency. The Gibraltar United move was considered major news at the time, particularly within the context of mainstream cryptocurrency adoption.
However, today’s news has even greater ramifications. While the Gibraltar team were paying their players in Quantocoin – a cryptocurrency hodled by the team’s owner – the Bitcoin move will undoubtedly generate greater publicity.
Ayr United and Bitcoin Cash
Meanwhile, further north up the British mainland, Scottish Championship club Ayr United recently secured a sponsorship deal which will see them wear ‘Bitcoin BCH’ (Bitcoin Cash) on their jerseys for the coming season.
The club is being sponsored by CoinGeek.com, which apparently views the football club as a viable avenue of exposure for the Bitcoin Cash.
As has been covered here before, football and cryptocurrency are two seemingly unlikely bedfellows who somehow continue to find themselves rubbing shoulders, and it doesn’t seem to be ending any time soon.