Enter Football (Or Soccer for US Readers)
Now world-renowned football clubs are also joining this motley company. Following this trend, plans for a significant crypto partnership were announced by Watford. As reported, at the matches of this season, the club’s players will wear the Dogecoin symbol on their sleeves.
This action is just a part of the club’s deal with crypto-betting platform Stake.com. The cost of this sponsorship is worth about $970,000, according to a report by the Athletic on August 14th. It’s worth noting that in July, Stake.com announced it would mark the occasion with the giveaway of 10 million DOGE worth $3.5 million.
Watford Football Club
Watford chairman, Scott Duxbury, said the club and sponsor have an “ambitious outlook and commitment to innovation.” As Duxbury also noted, it was “an extremely exciting campaign for the club as we return to the Premier League and we couldn’t be happier.”
What I should mention here is that Bitcoin was one of the sponsors of Watford in the past. This time, the club didn’t clarify which cryptocurrency the deal was done with, as well as its value in pounds. It should be noted that this cooperation is taking place in unfavorable conditions for crypto, especially in light of the orders of the FCA and ASA.
Football Driving Innovation
Lately, deals of football clubs with crypto companies have ceased to be a rarity. Moreover, the leading clubs of the world are interested in this kind of sponsorship, including Manchester City, Juventus, Barcelona, Arsenal, AC Milan, and others. Sponsorships are rarely limited to armbands or patches. In support of this trend, some players (like Lionel Messi) accept payments in crypto.
Executives of three mid-sized European football clubs said that fan tokens gained tremendous appeal during the pandemic when team supporters couldn’t attend matches and, therefore, had no direct connection with the players. In some cases, buying fan tokens also provides access to competitions, promotions, and sales, which is good against the background of decreasing profits in the era of COVID.