Bitcoin find a way to connect to the global sport, it could be a really big positive as cryptos would get a global attention. This seems to be happening as 7 English Premiership clubs have partnered with eToro to trail using cryptocurrencies during transferring players.
Football is arguably one of the most viewed and followed sport around the globe. The fan flowing for club level football is unmatchable especially the English Premier League and Italian Serie.
eToro brings bitcoin to football
eToro, which is a global platform for cryptocurrencies, has launched partnerships with seven Premier League Clubs to trail use of cryptocurrencies during player deals and transfers. The seven club that has signed for partnership are Tottenham Hotspur, Brighton & Hove Albion F.C., Cardiff City F.C., Crystal Palace F.C., Leicester City F.C., Newcastle United F.C. and Southampton F.C.
These partnerships will mark the first step in bringing the opportunity offered by bitcoin and cryptocurrencies to a global sport like football. eToro believes that crypto, and the technology, that underpins it, the blockchain, can improve football and the world of sports.
For eToro as well, being partner of these seven Premier League clubs will help it gain global exposure through an extensive range of marketing opportunities including matchday LED boards, player access, tickets and digital rights.
Iqbal V. Gandham, UK Managing Director at eToro said:
Today’s announcement is the first small step on a long road to football fully embracing blockchain technology. Education will be key so that industries can understand the potential and so getting global exposure through these Premier League clubs represents a great opportunity to raise awareness.
“Blockchain brings transparency, which means it can improve the experience for everyone who loves the ‘beautiful game’.”
A couple of statements from the clubs as well,
Fran Jones, Head of Partnerships, Tottenham Hotspur F.C. said:
“At Tottenham Hotspur, we are committed to technology and innovation and as such we’re excited to welcome eToro as a partner in a category that is developing at a rapid rate.”
Paul Barber, Chief Executive, Brighton & Hove Albion F.C. said:
“At Brighton, we pride ourselves in being at the forefront of bringing new technologies and new ideas to football. We’re excited to welcome eToro as a partner that can help us better understand the true potential offered by blockchain.”
Barry Webber, Commercial Director, Crystal Palace F.C. said:
“Blockchain technology is bringing exciting new opportunities to all areas of business sectors and we are delighted to welcome eToro as a partner so we can explore its potential in football.”
Jonathan Gregory, Commercial Director, Leicester City F.C. said:
“We are pleased to welcome eToro to the Club as an Official Partner, it is exciting to be working with such an innovative industry leader. Much like Leicester City, eToro is an ambitious brand with a significant global reach and we look forward to working together throughout the season.”
David Thomas, Commercial Director, Southampton F.C. said:
“We are extremely pleased to be welcoming eToro as a club partner. We look forward to working with them and learning more about the potential that cryptocurrency and blockchain technology can have in football.”
Italian Serie League also follows suit of using cryptocurrencies
According to report published by Sky Sports, Rimini Football Club that plays in Serie C, was sold to Heritage Sports Holdings, a company from the United Arab Emirates that deals with investments in the world of sport, in cryptocurrencies. For the first time in Italy, the payment will be done with a cryptocurrency thanks to the Quantocoin partnership.
The confirmation came directly from the President of Rimini, Giorgio Grassi, who during a press conference stated:
“Negotiations with this group have been going on for a couple of months […]. Heritage Sports Holdings with its partner Quantocoin will try to bring to the team and to the city new ideas and synergies from the sporting, brand image and technological point of views. Heritage Sports Holdings’ participation is innovative in view of its crypto payment system (QTCt) and the use of blockchain technology, for which Heritage Sports Holdings is already at the forefront in other countries. […] This acquisition will enter the history of football, bringing a very important resonance to the city of Rimini. In recent weeks Heritage Sports Holdings has shown great interest in the Rimini brand and in our innovative approach to football. The new members appreciated the transparency of Rimini F.C. (the same transparency that we are currently practising by telling you about these developments), its economic sustainability, its territoriality, its commitment to the world of solidarity and also the critical mass that our world expresses with all its affiliated companies”.
Blockchain has the power to change the business dynamics of Football. It is a win-win situation for both. And it does not just transfer windows and stake sale but in future, blockchain and cryptocurrencies could include addressing issues of ticket touting, problems with transparency, and providing a guarantee of authenticity for merchandise.
Will other sports too follow the example Club Football teams are setting? Do let us know your views on the same.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.