eToro unveils Premier League sponsorship deal
eToro has entered into a sponsorship agreement with seven Premier League football clubs, claiming to be the first brand to do so through bitcoin.
In partnership with sports marketing agency SportQuake, eToro revealed it had struck sponsorship deals with Newcastle United, Tottenham Hotspur, Crystal Palace, Southampton, Leicester City, Cardiff City and Brighton & Hove Albion.
The online investment platform said sponsorship would cover digital rights, tickets, access to players, interview backdrops and LED perimeter boards.
It will become the first ever brand to pay for Premier League sponsorship with bitcoin.
“The blockchain technology that underpins cryptocurrencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionize the world of football,” said eToro UK managing director, Iqbal V. Gandham.
With some 3 million users, eToro has stood out as one of the pioneers of crypto trading, having first introduced bitcoin to its platform in 2014.
The Israeli-based company has been busy adding various other cryptos to its trading platform since the beginning of 2017, when it listed XRP.
On Monday, eToro announced it was adding the IOTA token to the platform.