Crypto.com signs $30M sponsorship deal with PSG – paid partially in crypto
Popular French football club Paris Saint-Germain (PSG) has announced a multi-year partnership agreement with crypto trading platform Crypto.com, which will see Crypto.com become the Official Cryptocurrency Platform Partner of the Parisian club. The partnership will also include the release of exclusive Non-Fungible Tokens (NFTs) on Crypto.com’s native NFT platform: Crypto.com/NFT.
In addition, for the first time ever for an agreement of such a scale, Crypto.com will pay a significant portion of the sponsorship fee using the cryptocurrency token CRO.
Unconfirmed reports put the total value of the deal at more than $30 million over three years, making it one of the richest sports sponsorship deals (for a football club) ever that doesn’t include front-of-shirt logo exposure. PSG’s shirt sponsor is French multinational hospitality company Accor.
Paris Saint-Germain has recently built one of the strongest football teams in the history of the sport. Adding world class players Lionel Messi, Sergio Ramos, Gianluigi Donnarumma, Georginio Wijnaldum, Achraf Hakimi and Nuno Mendes to an already exceptionally strong squad, has seen the club’s international appeal rise to new heights. PSG said that partnering with Crypto.com, a leader in the crypto industry, was a natural next step. The company boasts over 10 million users worldwide and is a top-ten finance app in both the App Store and Google Play. In addition to building the world’s fastest growing crypto platform, Crypto.com also offers the world’s most popular crypto card available in 30+ countries.
Crypto.com has announced a number of recent sports partnerships, including with UFC, Formula 1, and Lega Serie A. Earlier this year, Crypto.com became the first crypto platform to partner with an F1 team, and the first to partner with an NHL team.
Marc Armstrong, Chief Partnerships Officer, Paris Saint-Germain, commented:
“We are delighted to welcome Crypto.com to the Paris Saint-Germain partner family. We share the same passion for innovation and the same ambition to reach the very top. With this partnership Paris Saint-Germain demonstrates once more it’s vision and leadership as a pioneer in areas such as lifestyle, esports and digital. It is an exciting time for Cryptocurrency and we cannot wait to work with Crypto.com to bring new experiences to all of the club’s fans.”
Crypto.com co-founder and CEO Kris Marszalek added:
“Our mission since day one has been to accelerate the world’s transition to cryptocurrency. We do so by finding the best partners in the world, and Paris Saint-Germain is second to none. Between the brand visibility, stadium and team access, and collaborative development of NFTs, I have no doubt we’ll create new and exciting experiences for football fans around the world.”