The organizers of the English Premier League think that cooperation agreements with the cryptocurrency sector may well not be in the curiosity of teams and followers.
According to the newspaper Times In the United kingdom, the organizers of the English Premier League (EPL) are preparing to evaluate the partnership in between teams and cryptocurrency organizations.
The COVID-19 pandemic left quite a few significant consequences for the EPL, when in the 2nd half of the 2019-2020 season and pretty much the total 2020-2021 season, the teams had to perform on an empty stand. This triggered Premier League clubs to get rid of up to € one billion in ticket income and other sources of revenue.
To compensate, quite a few clubs have turned to other sources of income, such as main partnership discounts with cryptocurrency organizations, which have grown quickly more than the very same time period.
According to the summary, as quite a few as 17/twenty EPL teams are owning discounts linked to cryptocurrencies. A normal illustration is Chiliz / Socios, who have partnered with teams this kind of as Manchester City, Arsenal, Everton, Aston Villa and Leeds to situation tokens for followers. These are cryptocurrencies that enable holders to love selected crew rewards or participate in club-linked choices.
Watford has partnered with the cryptocurrency platform Stake.com and even place the Dogecoin brand on the shoulders of the shirt. Southampton is funded by learncrypto.com.
Furthermore, the logos of quite a few cryptocurrency brand names this kind of as eToro, Coindeal, and so on. they seem on a regular basis on billboards along the border and are broadcast dwell to hundreds of thousands of viewers all around the planet.
However, there have been conflicting views on the aforementioned cooperation agreements, stating that they only advantage the crew but disregard an additional significant element, the fan neighborhood. A representative of the British Football Fans Association stated:
“The deals with cryptocurrency token fans are trying to monetize small problems that could easily be solved with the votes of online fans who bought the subscriptions or represent a financial barrier to entry. Interact with the team.”
Not stopping there, the reality that cryptocurrency organizations generally have unsecured reputations also prospects to fraud hazards. Manchester City not long ago announced that it will prevent partnering with a cryptocurrency enterprise known as 3Key Technologies soon after uncovering quite a few shady indicators.
It is these issues that are creating the English Premier League Organizing Committee extra interested in the aforementioned cooperation arrangements. Another element for regulators to take into consideration is that the United kingdom government is stated to be proposing to ban betting web sites from turning out to be the team’s principal sponsor.
The sports activities sector is at this time a “fertile” land that quite a few massive brand names in the cryptocurrency sector, mostly exchanges, aim to encourage themselves.
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