A new analysis by Investigate Europe has revealed that cryptocurrency and online trading companies have become major players in European football sponsorships, now appearing on the shirts of more than one-third of clubs across the continent’s top leagues. The trend is reshaping the commercial landscape of the sport, and raising fresh concerns about regulation, transparency, and consumer protection.
Crypto Dominance in the Premier League
According to the report, the Premier League leads the way, with 70% of its clubs holding sponsorship deals with cryptocurrency or trading platforms. Similar partnerships have been identified in around 30% of clubs in Spain’s La Liga, Germany’s Bundesliga, and Italy’s Serie A.
These agreements span both regulated and unregulated firms, some of which have previously been flagged by financial watchdogs as potentially high-risk for consumers. Analysts note that football’s global visibility and emotional fan connection make it an ideal platform for crypto companies seeking legitimacy and trust.
Kieran Maguire, a football finance expert at the University of Liverpool, said that these sponsorships pose reputational risks for clubs, noting that “investing in crypto and online trading carries volatility similar to gambling.”
High-Risk Partners and Regulatory Warnings
Manchester City’s high-profile partnership with Seychelles-based exchange OKX illustrates the issue. Earlier in 2025, OKX was fined over $500 million in the United States for anti-money laundering violations. Despite lacking registration with the UK’s Financial Conduct Authority (FCA), the company’s products remain accessible to British consumers — albeit with no regulatory protection.
Newcastle United’s deal with VT Markets, an Australian trading platform, has drawn similar scrutiny. The FCA, as well as regulators in Italy, Belgium, and Denmark, have all placed VT Markets on warning lists for unlicensed operations. Nonetheless, the company continues to advertise to UK audiences.
Expanding Across Europe
In Italy, seven Serie A clubs have sponsorships with 11 different crypto and trading firms. Inter Milan, for instance, has deals with Gate.io and Ultima Markets — the latter unregulated in the EU but still marketing to Italian users. Inter insists its agreement is focused on Asia, though advertising has appeared domestically.
In Spain, Atlético Madrid’s collaboration with Hong Kong-based Hantec Markets has raised similar questions, as the company also operates without an EU license. Other clubs, such as Portugal’s Sporting CP and England’s Leeds United, have already terminated crypto-related deals over non-payment or regulatory issues.
Calls for Stronger Oversight
With traditional gambling sponsorships increasingly restricted across Europe, crypto and trading firms have filled the void, often offering comparable financial incentives. According to sports marketing agency SportQuake, cryptocurrency companies invested around $565 million in sports sponsorships last season, with football accounting for 59% of that figure.
Experts warn, however, that many fans lack the financial literacy to navigate complex digital investments. Marketing specialist Tim Crow urged clubs to “conduct proper due diligence,” noting that fans view sponsorships as endorsements of trust.
As online trading brands triple their sponsorship spending since 2019, reaching $183 million, regulators and clubs alike face growing pressure to ensure these partnerships don’t expose fans to financial risk.
At present, no clubs have been accused of wrongdoing, but the report underscores a clear message: as crypto’s footprint in football expands, responsibility and regulation must keep pace.
Source: SiGMA News
