Cryptocurrency Exchange Company Offers to Sponsor Man City Training Kit with $20 million
- A cryptocurrency firm has agreed to sponsor premiership champions, Manchester City for the $20 million this season
- OKX insisted on becoming the company's official training kit partner despite the ongoing crypto downturn
- Reports say the club is currently worth over $4 billion and is the 4th most valuable club in the world
PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!
A cryptocurrency platform, OKX is insisting on Sponsoring Premier League Champions Manchester City in a $20 million deal which will see the company become its training kit partner.
On Sunday, July 10, 2022, the company said it has reached an agreement to increase its existing collaboration and become the club’s official training kit partner for the 2022/2023 season.
Source: Getty Images
One of the biggest clubs in the world
Select Manchester City players will also wear the jerseys in crypto education content made by the company.
PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!
The monetary terms were not specified, but Forbes reports that the agreement will earn the current Premier Leagues champions over $20 million this season. The club named OKX its official crypto partner in March 20222 as part of a multimillion-dollar arrangement.
The club is worth over $4.25 billion and is the sixth most valuable club in the world, according to Forbes.
Money from crypto poured into sports over the past few years as the crypto industry continues to evolve a mainstream presence.
Crypto money has poured into sports over the past few years as the industry continues to develop a mainstream presence.
Crypto winter sets in but traders are optimistic
Another crypto firm, FTX signed up several athletes as ambassadors including Tampa Bay Buccaneers player, Tom Brady, Golden State Warriors player, Steph Curry and Los Angeles Shohei Ohtani.
The recent crypto winter has plunged the industry into doubt but experts believe the future of the space is still blossoming despite Bitcoin trading below $20,000 in June.
About 180,000 Crypto investors lose 215.8 billion as bitcoin trades at $23k
Legit.ng reported that Bitcoin again plummeted to an all-time low of $23,000 on Monday, June 13, 2022.
About 180, 000 traders have lost $520 million, as the largest crypto dips to the lowest point in months, a price not seen since December 2020.
Market sell-off continues and was observed throughout the year. Many have likened the decline in the market to what was witnessed in the 2008 market crash and others compared the sell-offs to the Red Wedding in the famous Game of Thrones.
Source: Legit.ng
