The UK's Financial Conduct Authority has warned Premier League clubs against sponsorship deals with unauthorized crypto firms. The regulator cited potential legal, money laundering and reputational risks for clubs and fans.
The FCA said unauthorized companies could breach rules on financial promotions by using high-profile sponsorships. Clubs enabling such deals risk legal liability and exposing fans to unregulated platforms. Lucy Castledine, director of consumer investments at the FCA, stated that millions of fans trust their club’s badge and that clubs should not let unauthorized firms exploit that loyalty. OKX, which is not on the FCA crypto register, sponsors Manchester City shirt sleeves. Kraken, authorized through parent company Payward, sponsors Tottenham Hotspur. The FCA has written directly to clubs reminding them of their responsibilities. Neither Manchester City nor OKX had responded to requests for comment at the time of the warning.
