English Football Club Signs Sponsorship Deal That Includes Option of Being Paid Bonuses in Bitcoin
Southampton Football Club, a soccer team currently ranked 13th in England’s Premier League, recently signed a new sponsorship deal that includes an option for the club to be paid certain performance-based bonuses in bitcoin. The deal also extends the club’s partnership with the Coingaming Group as Main Club Partner for a further three years.
Also, as part of the new agreement, Coingaming Group’s brand, Sportsbet.io will continue as the club’s front-of-shirt sponsor. In a statement issued on April 8, the club explains the rationale behind the decision to include bitcoin bonuses. It said:
(The BTC bonus) allows the club the opportunity to take advantage of the new, high-growth currency if it feels it will bring significant future benefits.
According to the club’s statement, Southampton can elect to get paid in bitcoin at the end of the football season.
Meanwhile, Southampton Football Club’s Chief Commercial Officer (CCO), David Thomas also commented on the new sponsorship package.
“The team at Sportsbet.io have built a successful business by challenging convention and disrupting the market, but in a responsible way, and their approach to our partnership with them has been no different,” said Thomas.
The CCO also applauds Sportbet.io’s track record in developing and promoting “safe gambling messages.” With this sponsorship deal, Southampton becomes one of the first sports teams in England to embrace bitcoin.
What are your thoughts on this sponsorship deal? You can tell us what you think in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Published at Fri, 09 Apr 2021 21:30:30 +0000