Premier League soccer clubs warned about unauthorized crypto firms' sponsorship
Summary
The U.K. Financial Conduct Authority has warned Premier League clubs about sponsorships with unauthorized crypto firms. It said such deals may breach financial promotion rules and could expose clubs to legal liability, money laundering risks, and reputational harm. In the U.K., crypto firms not on the FCA register can only advertise if an authorized company approves their marketing. The FCA said clubs should not allow their badges to be used to promote potentially dubious products to fans. It has written directly to Premier League clubs to remind them of their responsibilities. Examples include OKX on Manchester City shirts and Kraken on Tottenham shirts; Kraken is FCA-registered through its parent company, while OKX is not.
