Thursday 25 June 2026 11:18 am
| Updated:
Thursday 25 June 2026 11:20 am
Manchester CIty have a sleeve partnership with crypto trading platform OKX
Premier League football clubs have been warned that long-term sponsorship deals with crypto firms could be rendered worthless in a year’s time.It comes after the Financial Conduct Authority took the unusual step of writing to teams about the issue this month and as the watchdog rolls out plans for tighter scrutiny of the sector.The FCA’s new, tougher regulatory framework for crypto will take effect in autumn 2027. Fourteen Premier League clubs, including Arsenal, Chelsea, Manchester City and Tottenham Hotspur, already have partnerships with crypto companies, who have been tipped to fill sponsorship gaps caused by incoming restrictions on betting brands.“Clubs are caught between two distinct regulatory timelines,” Dan Wyatt, a Partner at international law firm RPC, told City AM. “A commercial gap created by the gambling ban, and a compliance risk created by the crypto framework still taking shape. Those signing multi-year deals today are taking on partners whose regulatory status may change materially before those contracts expire.”The watchdog told clubs in early June that they could be held liable if they help to promote crypto or financial trading companies operating in the UK without a licence.Man City, Chelsea and Spurs crypto partners unlicensed by FCAManchester City partner OKX, Chelsea partner BingX and Spurs partner Kraken are not currently on the FCA’s list of registered crypto companies. Arsenal partner Bitpanda is on the FCA list. There is no suggestion of wrongdoing by the clubs or firms. Under the Proceeds of Crime Act 2002, clubs can be found guilty of money laundering for receiving funds that they may have suspected derived from illegal activity.“The FCA doesn’t typically issue blanket warnings about criminal liability to entities outside its supervisory perimeter,” said Tom Jenkins, Of Counsel at RPC.“Clubs should read that as a deliberate signal – the regulator is making clear that it does not see them as bystanders. They are a key part of the FCA’s efforts to tackle misconduct relating to unauthorised crypto trading.”Crypto firms are among the candidates to make up an estimated £80m shortfall caused by Premier League clubs’ decision to remove betting brands from front-of-shirt sponsorship.Clubs have been advised to conduct due diligence on current and potential crypto sponsors to gauge their exposure to risk, as even expired deals can still be assessed for liability retrospectively.
