With gambling deals on the wane, cryptocurrency companies are the latest wave of controversial cash to flood into football, with many top European clubs having deals with companies in the sector.
The latest and perhaps most significant yet may be Liverpool who, at the same time as attempting to win a quadruple on the field, are in talks off it with a number of companies from different areas, including cryptocurrency firms, to replace Standard Chartered on the front of the iconic red shirts next year — as revealed by David Ornstein.
Were they to strike a deal they would be the first Premier League club to have a cryptocurrency firm as their front of shirt sponsor.
Here The Athletic explains what cryptocurrencies are, the deals firms have already signed with clubs and whether there should be any concerns about partnering with them.
What are cryptocurrencies and who is in the mix for Liverpool’s shirt sponsorship deal?
Cryptocurrencies are digital assets based on blockchain technology, the computer networks which underpin the likes of Bitcoin and Ethereum.
The firms in the race for Liverpool’s shirt include a crypto exchange firm — a platform to buy and sell digital currency — and a blockchain platform, a decentralised computer network that underpins cryptocurrencies.
These sorts of firms are increasing their presence in sport but are controversial for reasons including the environmental impact of their products and an association with volatile financial…
