Cryptocurrency exchange Crypto.com has reportedly dropped out of a half-billion-dollar sponsorship deal with the Union of European Football Associations Champions League.
According to a Wednesday report from SportBusiness, Crypto.com pulled out of a $495-million agreement with the Union of European Football Associations, or UEFA, which was close to being signed due to its legal team citing regulatory concerns with the exchange’s licenses in the United Kingdom, France and Italy. Had the deal gone through, Crypto.com’s branding would have been present for the UEFA Champions League for five seasons at a cost of roughly $100 million per season, ending in 2027.
Uefa narrowly missed out on what was set to be one of its largest-ever sponsorships for the Champions League earlier this summer when a deal with the cryptocurrency platform fell through at the last moment, SportBusiness understands. https://t.co/nnD5CjmF8Z
— SportBusiness (@SportBusiness) August 31, 2022
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