UEFA, the governing body of European soccer, is looking to secure sponsors from the crypto exchange sector for the upcoming 2024-2027 cycle of its prestigious men’s Champions League (UCL) club competition.
According to a report from Sportcal, interested parties have until March 20 to submit their formal offers via email to [email protected].
The report added that while UEFA has already received one offer in this category, the organization is actively seeking additional sponsors from the cryptocurrency exchange sector.
The search for sponsors began in May 2022 in conjunction with Team Marketing, UEFA’s club competitions partner agency.
UEFA Inks Partnershops with Partners in Different Sectors
For the current commercial cycle, UEFA has established partnerships with eight global sponsors for the Champions League, including notable brands such as PlayStation, Walkers/Lays, FedEx, Mastercard, Turkish Airlines, and Oppo.
The Europa League and Conference League, UEFA’s secondary club competitions, have secured sponsors such as Heineken 0.0, Hankook, Enterprise, Swissquote, Just Eat, and Bwin.
In order to attract sponsors for the 2024-2027 cycle, UEFA had previously called for bids from the financial sector, including cryptocurrency exchanges.
However, no crypto firm emerged as a successful bidder during that process.
In 2022, Crypto.com was reportedly set to sponsor the Champions League for a staggering £428 million over five seasons.
Unfortunately, the agreement fell through at the last moment due to concerns about increased cryptocurrency regulations.
Despite this setback, UEFA remains committed to exploring partnerships in the cryptocurrency exchange sector.
UEFA came very close to a huge crypto sponsorship in 2022 (as reported by SportBusiness at the time). Now back in the market – through TEAM Marketing – for a Champions League sponsor in the same sector. Story here: https://t.co/hOXUYjRpX4
— Martin Ross (@martingrantross) March 13, 2024
Recently, Just Eat Takeaway.com, an international online food delivery company, renewed its sponsorship of all three UEFA men’s club competitions for the 2024-2027 cycle.
The agreement grants Just Eat Takeaway.com the official designation as the food delivery partner for UEFA’s men’s club competitions, including the Champions League.
The company will receive brand exposure through in-game perimeter LED boards, media interview backdrops, and broadcast sponsorship.
Additionally, Just Eat Takeaway.com will have exclusive activation opportunities on-site during matches, further enhancing its presence in the world of European football.
Crypto Firms Aim For Sponsorship Deals with Sports Teams
Crypto firms have increasingly sought to make their mark in the sports world through significant sponsorship deals with arenas and teams, aiming to boost their visibility and customer base.
In 2021, Crypto.com spent $700 million for the naming rights to the former Staples Center, where the Los Angeles Lakers play. The venue is now officially called Crypto.com Arena.
The exchange also entered a $175 million deal to sponsor the UFC. This agreement placed the exchange’s logo on various fight gear, including shorts, top bras, and walk-out hoodies, for a decade.
Furthermore, the company has engaged in a variety of other sports partnerships, including with the Philadelphia 76ers, Formula 1 Racing, and even featuring basketball superstar LeBron James in its promotional efforts
It is worth noting that now-defunct crypto exchange FTX also managed to ink a number of sponsorship deals with sport companies.
FTX became the first crypto company to secure naming rights to a major sporting venue through a 19-year partnership worth $125 million with the Miami Heat.
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