UEFA Opens Doors to Crypto Exchanges for Champions League Sponsorship

UEFA, the governing body of European football, is currently exploring opportunities to partner with cryptocurrency exchanges as sponsors for its men’s Champions League competition for the 2024-2027 cycle. 

According to a report by Sportcal, the organization has set a deadline of March 20 for interested crypto exchanges to submit their proposals. This move comes after UEFA initiated its search for new sponsors back in May 2022 in collaboration with Team Marketing, its club competitions partner agency.

For the current commercial cycle, UEFA successfully secured eight global sponsors for the Champions League, featuring well-known brands such as PlayStation, Walkers/Lays, FedEx, Mastercard, Turkish Airlines, and Oppo. Additionally, the Europa League and Conference League, UEFA’s secondary club competitions, have attracted sponsors, including Heineken 0.0, Hankook, Enterprise, Swissquote, Just Eat, and Bwin.

Despite a previous call for bids from the financial sector, including cryptocurrency exchanges, no crypto firm secured a sponsorship deal during that round.

In 2022, an attempt was made for Crypto.com to become a sponsor of the Champions League with a proposed deal worth £428 million over five seasons. However, the agreement was not finalized due to rising concerns over cryptocurrency regulation. Despite this, UEFA remains open to the idea of partnering with companies from the cryptocurrency exchange sector.

The Growing Trend of Crypto Sponsorships in Sports

Just Eat, Takeaway.com, an international online food delivery company, has already renewed its sponsorship of all three UEFA men’s club competitions for the 2024-2027 cycle.

Crypto firms have been increasingly active in seeking sponsorship deals within the sports sector, aiming to enhance their visibility and consumer base. Crypto.com, for instance, secured the naming rights to the former Staples Center for $700 million, renaming it the Crypto.com Arena.

The exchange also entered into a $175 million deal to sponsor the UFC, along with various other sports partnerships. These strides highlight the growing interest of crypto companies in leveraging sports platforms to reach wider audiences, a plan UEFA is evidently considering by welcoming offers from the cryptocurrency exchange sector for its Champions League competition.

Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.