The online investment platform eToro has penned a ground breaking partnership deal with seven premier league football clubs. The deal will see it pay with bitcoin to sponsor these top clubs, whilst also receiving visibility through different marketing channels.
The deal has been in the pipelines for some time but was announced on Tuesday, August 21st. The seven clubs that have agreed to host eToro advertisements include Tottenham Hotspur, Leicester City, Newcastle United, Crystal Palace, Southampton, Brighton & Hove Albion and Cardiff City.
The Tel Aviv and UK based multi-asset platform will have access to a range of assets within each club, including match-day LED boards, access to players, digital rights and tickets.
These partnerships are the first step to bringing blockchain technology to football, the UKs most popular sport with an average television audience of 819,000 per match.
Iqbal V. Gandham, UK Managing Director at eToro said:
“Today’s announcement is the first small step on a long road to football fully embracing blockchain technology. Education will be key so that industries can understand the potential and so getting global exposure through these Premier League clubs represents a great opportunity to raise awareness.
“Blockchain brings transparency, which means it can improve the experience for everyone who loves the ‘beautiful game’.”
This move should come as no surprise to those that have seen eToros growth within the cryptocurrency space. Being one of the first to platforms to offer bitcoin and then later ethereum and ripple, it recently announced its intention to open a complete cryptocurrency exchange and wallet service, which opens up a huge market in the US.
Their social approach for users has made eToro a hugely popular platform for retail investors and the multiple assets allow users to diversify into any asset class they want.
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.”
Fran Jones, Head of Partnerships, Tottenham Hotspur F.C. said:
“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.”