{"id":66600,"date":"2022-09-01T17:19:02","date_gmt":"2022-09-01T14:19:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66600"},"modified":"2025-09-07T02:10:50","modified_gmt":"2025-09-06T23:10:50","slug":"crypto-com-pulls-out-of-e500m-uefa-champions-league-sponsorship","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-com-pulls-out-of-e500m-uefa-champions-league-sponsorship\/","title":{"rendered":"Crypto.com pulls out of \u20ac500m UEFA Champions League sponsorship"},"content":{"rendered":"<p>The cryptocurrency platform Crypto.com pulled out at the last moment from a five-year sponsorship deal worth \u20ac500m with the UEFA Champions League <span data-descr=\"Union of European Football Associations\" class=\"old_tooltip\">UEFA<\/span>, according to SportBusiness.<\/p>\n<p>According to the publication, the company was to replace Gazprom as the tournament&#8217;s title sponsor. The European football governing body terminated its contract with the Russian conglomerate in March following Russia&#8217;s invasion of Ukraine.<\/p>\n<p>The agreements with Crypto.com envisaged a \u20ac100m per season payout by the platform, compared with around \u20ac40m from Gazprom.<\/p>\n<p>According to SportBusiness sources, the parties had in principle agreed the deal and were close to signing. Presumably, in the federation&#8217;s history this represented the most advanced stage of negotiations at which a commercial contract collapsed.<\/p>\n<p>Sources emphasised that Crypto.com&#8217;s decision not to sponsor was not tied to the crypto-market crisis. The company has faced legal issues in several key European countries, including <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-secures-uk-approval-to-operate-crypto-assets\">the United Kingdom<\/a>, France and <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-secures-digital-asset-provider-licence-in-italy\">Italy<\/a>, with regard to the scope of its licences.<\/p>\n<p>Octagon&#8217;s managing director, Phil Carling, drew attention to the shrinking flow of money from crypto to sport:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThree months ago this was a hot sector, and they were offering crazy money for premium rights. Now we do not see anything like this in any of the processes we handle. I\u2019m not saying this is forever; everything could return. But for now, large cash deals and the commission windfalls we were receiving have disappeared.\u201d<\/p>\n<\/blockquote>\n<p>According to the publication, Crypto.com has recently spent more than $1bn on sports sponsorships. Among others, this includes deals with:<\/p>\n<ul class=\"wp-block-list\">\n<li>the Staples Center arena in Los Angeles ($700m);<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-signs-five-year-sponsorship-deal-with-formula-one\">Formula 1<\/a> auto racing series;<\/li>\n<li>the <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-signs-sponsorship-deal-with-ufc\">UFC<\/a> ($175m over 10 years);<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-signs-sponsorship-deal-with-the-australian-football-league\">Australian Football League<\/a>;<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-to-sponsor-fifa-world-cup-qatar-2022\">FIFA<\/a> World Cup in Qatar;<\/li>\n<li>the French club <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-signs-sponsorship-deal-with-paris-saint-germain\">Paris Saint-Germain<\/a> (no less than $25m over three years).<\/li>\n<\/ul>\n<p>In February, Crypto.com, together with Coinbase and FTX, displayed <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-ftx-crypto-com-crypto-firms-post-record-super-bowl-advertising\">a record amount of advertising<\/a> during the <span data-descr=\"the decider match of the National Football League\" class=\"old_tooltip\">Super Bowl<\/span>. A 30-second spot cost $6.5m.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency platform Crypto.com pulled out at the last moment from a five-year sponsorship deal worth \u20ac500m with the UEFA Champions League, reports SportBusiness.<\/p>\n","protected":false},"author":1,"featured_media":66601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1452,828],"class_list":["post-66600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-com","tag-sports"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=66600"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66600\/revisions"}],"predecessor-version":[{"id":66602,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66600\/revisions\/66602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/66601"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=66600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=66600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=66600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}