Israeli-trading platform eToro has announced Bitcoin (BTC) funding partnerships with seven Premier League football clubs in the United Kingdom.
The company will become the first ever to bring cryptocurrency sponsorships to such a large organization such as the Premier League. The football clubs it has sealed deals with include Tottenham Hotspur, Newcastle, Southampton, Leicester City, Crystal Palace, Brighton & Hove Albion and Cardiff City.
Managing Director of eToro’s UK operations, Iqbal Gandham, spoke of his excitement at the new partnerships.
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.”, he said.
The deal was negotiated with sports marketing agency SportQuake and provides eToro access to players, digital rights, tickets and advertising platforms to help build a massive TV and social media campaign, all paid for in Bitcoin. The move will further help to expose the cryptocurrency market to a massive mainstream environment.
The deal is reportedly worth approximately £4.5 million and benefits from a $100 million investment that eToro received in March this year. Earlier this year eToro opened up its cryptocurrency trading operations to the United States market, providing trading in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, DASH, Bitcoin Cash (BCH), Stellar Lumens (XLM), Ethereum Classic (ETC), NEO and EOS.
The company has continued to develop and add support for further digital assets to its platform over the past months.
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