Liverpool FC Considers Crypto Shirt Sponsor

According to The Athletic, Liverpool FC is in talks over a new shirt sponsorship deal, with companies from the cryptocurrency sector in discussions.

The Red’s current annual £40m sponsorship contract with Standard Chartered is set to expire in May 2023, and although talks remain ongoing regarding an extension, it is thought that the club are exploring alternative options.

Firms from the media, tourism, and electronic sectors are said to be in the mix, as well as a crypto exchange firm, a platform to buy and sell digital currency, and a blockchain platform, a decentralised computer network that underpins cryptocurrencies.

This would be far from cryptocurrency’s first step into the world of football, but no Premier League team has printed a cryptocurrency brand onto its shirts. The most prominent Premier League cryptocurrency sponsor is Socios, which sells ‘fan engagement tokens’, and currently has deals with Arsenal, Aston Villa, Crystal Palace, Everton, Leeds United and Manchester City. 

A deal that includes shirt sponsorship is likely to further the controversary surrounding crypto’s growing presence in sport. The sector is largely unregulated and is closely associated with financial speculation. Cryptocurrency can be bought and sold on exchanges for financial gains or losses, potentially exposing fans to risk. Crystal Palace fans recently held up a banner calling Socios “parasites“.

Liverpool FC received backlash itself last month with the launch of its own series of NFTs, non-fungible tokens.

Talks are continuing with all parties, with the Anfield club hopeful of finalising a deal that will bring in more than £70m over two seasons from a successful sponsor, as they continue to battle with financial power of other clubs at the top of the Premier League.

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