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Crypto.com Withdraws from $495 Million UEFA Champions League Sponsorship Deal

Crypto.com has pulled out of a major sponsorship agreement with UEFA due to regulatory concerns, impacting its branding presence in the Champions League.
Published on 2022-09-01

Crypto.com Withdraws from UEFA Sponsorship Deal

Crypto.com has reportedly withdrawn from a $495 million sponsorship agreement with the Union of European Football Associations (UEFA) for the Champions League. The deal, which was nearing completion, was set to last five seasons, ending in 2027, with an annual commitment of approximately $100 million.

Regulatory Concerns Prompt Withdrawal

The decision to pull out was driven by regulatory concerns raised by Crypto.com's legal team. Specifically, issues were flagged regarding the exchange's licenses in the United Kingdom, France, and Italy. These concerns led to the termination of the agreement, which would have significantly boosted Crypto.com's visibility through Champions League branding.

Impact on Crypto.com and UEFA

The withdrawal marks a significant setback for Crypto.com's efforts to expand its global reach through sports sponsorship. For UEFA, the loss of this major sponsorship deal could create challenges in securing alternative funding for the prestigious tournament. The situation underscores the growing importance of regulatory compliance in the cryptocurrency industry as companies navigate complex legal landscapes across jurisdictions.

This development highlights the delicate balance between business growth and regulatory adherence, particularly for cryptocurrency exchanges aiming to partner with high-profile organizations like UEFA.

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