What’s Going On?
Investment platform eToro has signed deals with seven UK Premier League clubs which are to be paid using bitcoin.
Why Does It Matter?
Brighton, Cardiff City, Crystal Palace, Leicester City, Newcastle United, Southampton, and Tottenham Hotspur have all agreed to take payment in cryptocurrency, reported FinExtra.
eToro will receive a range of marketing assets in return for the crypto payments, including player access, digital rights, tickets, LED perimeter boards and interview backdrops, reported Inside World Football.
A Goal? Or Offside?
eToro’s UK Managing Director, Iqbal Gandham, said: “As a global multi-asset platform where you can purchase the world’s biggest cryptoassets alongside more traditional investments, we are excited to be partnering with so many Premier League clubs and make history by being the first company ever to pay for a Premier League partnership in bitcoin.”
Paul Barber, Chief Executive of Brighton & Hove Albion, said: “We’re excited to welcome eToro as a partner that can help us better understand the true potential offered by blockchain.”
Yahoo Finance reported that Fran Jones, Head of Partnerships at Tottenham, stressed the club is “committed to technology and innovation”. Southampton’s Commercial Director David Thomas said the club is keen on “learning more about the potential that cryptocurrency and blockchain technology can have in football”.