- UEFA is looking for new sponsors for the Champions League.
- The governing body has invited interested parties to send their proposals.
- Crypto exchanges have been urged to apply.
Switzerland-based European soccer’s governing body, UEFA, has initiated the process of finding sponsors in the crypto exchange sector for the upcoming 2024-27 cycle of the Champions League (UCL).
The Champions League is a top-tier men’s soccer club competition. Thirty-two teams play against each other in five rounds for the right to be crowned the best club in Europe. The first Champions League tournament occurred during the 1955-56 season, and the competition has been held yearly since then.
UEFA Scouts for Crypto Exchange Sponsors
According to a Sportcal report on March 14, UEFA has begun inviting bids from potential cryptocurrency exchange sponsors as the continental body prepares to kick off the 2024-27 UCL.
Sponsored
While UEFA said it received one sponsorship offer in this category as of yesterday, it did not confirm whether it accepted or rejected the bid. Instead, the body encouraged interested crypto exchanges to send formal sponsorship offers by March 20.
The soccer governing body started looking for UCL 2024-27 sponsors in May 2022 with Team Marketing, its club competitions partner agency. That year, Crypto.com inched closer to inking a deal with UEFA for a staggering £428 million over five seasons. The agreement went up in smoke following concerns about increasing crypto regulation.
Despite the mishap, Crypto.com signed a different partnership with FIFA as the official sponsor of the 2022 World Cup in Qatar.
UEFA’s recent move shows the body’s commitment to exploring the possibility of partnerships with emerging financial sectors, such as crypto.
For its current commercial cycle, the body has eight global Champions League sponsors, including Mastercard, FedEx, PlayStation, Turkish Airlines, Oppo, and Walkers/Lays.
Stay updated on South Africa’s move to license crypto exchanges:
South Africa Approves 59 Crypto Licenses, 262 Pending
Read about what the Ethereum Dencun upgrade changes:
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