OKX Expands Sponsorship Deal with Manchester City
- Crypto exchange OKX has extended its sponsorship agreement with Manchester City.
- The new deal includes OKX’s logo on the playing kits of Manchester City’s men’s and women’s first teams.
- The agreement was unveiled through a virtual video featuring player avatars.
- City Football Group CEO Ferran Soriano expressed pride in having OKX represented on the team’s shirt.
- City Football Group is a holding company that owns Manchester City and other soccer teams.
- Manchester City achieved a treble-winning season in 2022/2023.
OKX’s Partnership Journey with Manchester City
- OKX was initially announced as Manchester City’s official cryptocurrency exchange partner in March 2022.
- In July of that year, OKX signed a sponsorship deal to have its logo on Manchester City’s training kit.
- Last year’s deal also included OKX as a presenting partner for City’s trophy tour and commissioned murals featuring Manchester City players across the city.
- In February, OKX launched the “OKX Collective,” a metaverse fan experience with Manchester City players.
- OKX CMO Haider Rafique expressed excitement about the sleeve partnership bringing them closer to City fans worldwide.
Regulatory Concerns and Potential Restrictions
- The sale of crypto derivatives, offered by OKX, was banned in the UK in January 2021.
- OKX and other crypto exchanges comply with advertising restrictions in the country.
- There are concerns that similar restrictions could be imposed on crypto sponsorships in football.
- The Football Supporters’ Association has called for regulatory standards on crypto in football.
- Changes to gambling sponsorships will not take effect until the 2026/2027 soccer season.
Hot Take:
The expansion of OKX’s sponsorship agreement with Manchester City demonstrates the growing relationship between the cryptocurrency exchange and the soccer club. This extended partnership allows OKX to further promote its brand through the visibility of its logo on the playing kits of both the men’s and women’s first teams. With Manchester City’s recent treble-winning season, the collaboration showcases the success and ambition of both parties. However, regulatory concerns and potential restrictions in the UK pose challenges for crypto sponsorships in football. Overall, this partnership highlights the increasing integration of cryptocurrency and sports marketing.
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