Introduction
Italian soccer club AC Milan has extended its partnership with BitMEX, a cryptocurrency exchange. The new deal sees BitMEX become AC Milan’s premium partner and official cryptocurrency trading partner.
The Deal
The terms of the new deal have not been disclosed, but MilanNews previously reported that BitMEX was paying €5 million (about $5.6 million) per year to sponsor AC Milan.
The Partnership
BitMEX’s logo has appeared on the gameday sleeves of both the AC Milan men’s and women’s team kits since the original deal was inked in 2021. The partnership also includes a number of digital initiatives, such as the release of an NFT collection last year.
The Future of Crypto Sponsorship in Soccer
Cryptocurrency has been a popular sponsorship category for Italian soccer in recent years. In addition to AC Milan and Juventus, top Serie A clubs AS Roma and Inter Milan have also had sleeve sponsorships with blockchain companies.
However, some deals have fallen apart amid the crypto market downturn. DigitalBits, the blockchain company that sponsored AS Roma and Inter Milan, failed to make payments to the clubs earlier this year and their deals were terminated.
Despite the recent setbacks, the future of crypto sponsorship in soccer looks bright. Major European clubs like Manchester City and FC Barcelona are already involved in crypto initiatives, and there is a growing appetite for crypto among fans.
