Manchester City football club signs multimillion-dollar deal with crypto exchange OKX
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English Premier League giant Manchester City is the latest sports club to ape into crypto.
The reigning EPL champion announced today that it’s signed a multi-year partnership with Seychelles-headquartered cryptocurrency exchange OKX (formerly known as OKEx).
It’s the exchange’s first foray into the world of sports sponsorships, and it follows in similar footsteps to other large crypto exchanges such as FTX and Crypto.com. Both those exchanges have made eye-catching moves with several high-profile sports deals over the past 12 months, particularly in the US.
Welcome to @okx, Official Cryptocurrency Partner of Manchester City.
Game On! 🙌
— Manchester City (@ManCity) March 4, 2022
The OKX deal makes it the club’s official crypto-exchange partner and spans across Manchester City’s men’s and women’s teams. It will also bring signage presence for the exchange inside the club’s 55,000 capacity Etihad Stadium.
The exact financial terms of the partnership weren’t disclosed in the official announcement, but according to media outlet Forbes, which reportedly spoke to a “source”, it’s in the multiple millions of dollars (US).
For any non-roundball fans reading this, Man City is kind of a big deal in world football. As well as being champions in three of the past four EPL seasons, the club is currently topping the Premier League table and competing in the latter stages of the UEFA Champions League and the FA Cup.
It’s also the world’s sixth-most valuable football club at US$4 billion.
OKX, meanwhile, has more than 20 million users globally and is the world’s second-largest crypto exchange (after Binance) by spot trading volume, according to data by CoinGecko.