Southampton Football Club, currently ranked 13th in the English Premier League, recently signed a new sponsorship agreement that includes the option to allow the club to pay certain performance-based bonuses in the form of Bitcoin. The transaction also extends the club’s partnership with the Coingaming Group as the main club partner for another three years.
In addition, as part of the new agreement, Sportsbet.io, the brand of Coingaming Group, will continue to be the club’s jersey sponsor. In a statement issued on April 8, the club explained the reasons for the decision, including the Bitcoin bonus. it says:
(BTC bonus) gives the club the opportunity to take advantage of the new, high-growth currency, if it believes it will bring significant future benefits.
According to the club’s statement, Southampton can choose to pay in Bitcoin at the end of the football season.
At the same time, David Thomas, Chief Commercial Officer of Southampton Football Club, also commented on the new sponsorship plan.
“By challenging conventions and disrupting the market, the Sportsbet.io team has built a successful business, but in a responsible way, the way they build partnerships with us is no different,” Thomas said.
The COO also praised Sportbet.io for its track record in developing and promoting “safe gambling information.” Through this sponsorship agreement, Southampton became one of the first sports teams in England to adopt Bitcoin.
What is your opinion on this sponsorship agreement? You can tell us your thoughts in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. For the use or reliance on any content, goods or services mentioned in this article, or any loss or loss related to it, the company or the author shall not directly or indirectly bear any responsibility.