eToro, a global investment platform has revealed partnerships with seven Premier League Football Clubs to pay them in Bitcoin. These clubs include Brighton & Hove Albion F.C., Cardiff City F.C., Crystal Palace F.C., Leicester City F.C., Newcastle United F.C., Southampton F.C., and Tottenham Hotspur.
These partnerships are another step towards adoption of cryptocurrency in the sports industry, particularly football.As per eToro, cryptocurrency and the blockchain technology underlying it can improve the world of football and sports. According to the company, future prospects of this technology in the sports industry include solving problems with transparency, ticket touting and providing guarantee of merchandise.
Iqbal V. Gandham, UK Managing Director at eToro commented on these partnerships,
As a global multi-asset platform where you can purchase the world’s biggest crypto assets alongside more traditional investments, we are excited to be partnering with so many Premier League clubs and make history by being the first company ever to pay for a Premier League partnership in bitcoin.
Through these partnerships, eToro will also gain worldwide exposure through a range of marketing activities such as player access, tickets, digital rights and more.
Gandham further explained that this announcement is the first step on a long road of football finally accepting and adopting blockchain technology. He believes that education is essential so that industries can see real time examples of how this technology is beneficial and therefore the global relations achieved through the partnership with Premier Club Teams is helpful.
He further added,
Blockchain brings transparency, which means it can improve the experience for everyone who loves the ‘beautiful game.
As per the press release, spokespersons from the partner football clubs commented on the matter.
Fran Jones, Head of Partnerships, Tottenham Hotspur F.C. stated,
At Tottenham Hotspur we are committed to technology and innovation and as such we’re excited to welcome eToro as a partner in a category that is developing at a rapid rate.
Paul Barber, Chief Executive, Brighton & Hove Albion F.C. said,
At Brighton we pride ourselves in being at the forefront of bringing new technologies and new ideas to football. We’re excited to welcome eToro as a partner that can help us better understand the true potential offered by blockchain.
Barry Webber, Commercial Director, Crystal Palace F.C. said,
Blockchain technology is bringing exciting new opportunities to all areas of business sectors and we are delighted to welcome eToro as a partner so we can explore its potential in football.
Jonathan Gregory, Commercial Director, Leicester City F.C. said,
We are pleased to welcome eToro to the Club as an Official Partner, it is exciting to be working with such an innovative industry leader. Much like Leicester City, eToro is an ambitious brand with a significant global reach and we look forward to working together throughout the season.
David Thomas, Commercial Director, Southampton F.C. said,
We are extremely pleased to be welcoming eToro as a club partner. We look forward to working with them and learning more about the potential that cryptocurrency and blockchain technology can have in football.
Clearly, all the partner clubs see themselves and eToro both as innovative, technologically inclined and curious as well as globally adept.
eToro is a multi asset platform that aims to encourage people to invest by giving them access to the financial instruments and tools they need. The company believes that in the future, all assets will be tokenized and is therefore playing its part in the process.