With the Premier League set to ban front-of-shirt gambling sponsorships by mid-2026, cryptocurrency companies are stepping in to fill the gap. A Bloomberg report from September 7 revealed that Premier League (PL) clubs have secured a record $170 million in sponsorship deals with crypto firms for the 2024/25 season. This shift comes as the league faces increased restrictions on gambling sponsorships, which have historically been a major revenue source.
Crypto Sponsorships on the Rise
Several Premier League clubs have already signed significant deals with crypto firms. For example, leading cryptocurrency exchange Kraken has partnered with Tottenham Hotspur, in addition to other clubs such as Atlético Madrid in La Liga and RB Leipzig in the Bundesliga. In June 2023, Premier League champions Manchester City extended their partnership with OKX for three years, a deal worth $70 million.
Crypto.com, a prominent name in the digital currency space, has also expanded its involvement in football. The company, which has naming rights to the former Staples Center in Los Angeles, announced in August that it will sponsor UEFA’s Champions League through 2027.
Beyond the biggest leagues, Turkish club Galatasaray recently signed a two-season sponsorship deal with blockchain analytics firm Arkham Intelligence, valued at $4 million, with the company’s logo appearing on the team’s shirt sleeves.
From Gambling to Crypto
For Premier League clubs, these crypto partnerships signal a significant change in their sponsorship landscape. Gambling sponsorships have traditionally been a large revenue source, with eight teams in the 2023/24 season earning nearly $80 million collectively from front-of-shirt gambling ads. However, with a ban on such sponsorships by 2026—and an existing “whistle-to-whistle” ban on gambling ads during live broadcasts—teams are turning to crypto firms to replace the lost income.
According to Daniel McDonagh, an associate at UK law firm Charles Russell Speechlys, crypto companies are now stepping up to fill the financial void left by the diminishing gambling sponsorship opportunities.
Rebuilding Crypto’s Reputation
The rise in crypto sponsorships also reflects an effort to improve the industry’s image. The crypto sector has faced negative press due to the collapse of major firms such as FTX, Voyager Digital, and Three Arrows Capital (3AC). By partnering with reputable football clubs, these crypto companies are working to rebuild their public image and establish themselves as credible players in the financial world.
This growing relationship between Premier League clubs and cryptocurrency firms highlights a significant shift in sports sponsorships. As gambling sponsorships are phased out, crypto companies are poised to become a key financial supporter, marking a new era in the world of football sponsorship.
