Manchester City jumps on the crypto bandwagon with OKX partnership
Manchester City, an English football club based in Manchester that competes in the Premier League, has confirmed a partnership with a Seychelles-based cryptocurrency exchange, OKX. The duration of this partnership was not revealed by the football club, but it is a multimillion-dollar deal, as revealed by a report from Forbes.
A multimillion-dollar deal of Manchester City
The financial aspects of the deal between Manchester City and the OKX exchange haven't been revealed, but as per the report from Forbes, the deal between the two firms has a multi-year clause. As per the people with the knowledge of the matter, the world's 6th most valuable football club worth $4 billion, the deal between the two firms was in the multimillion-dollar range annually."It will include a presence inside of both Manchester City venues, the 55,000-seat Etihad Stadium and the 7,000-person capacity Academy Stadium, as well as collaboration on future projects."As per reports, the deal will include both the men and women teams of Manchester City and also the esports ventures of the team as well. It is also to be noted that there has been a huge growth in partnerships with crypto exchanges and football clubs. It seems that this is the first major venture of the OKX crypto exchange and the Manchester City Football Club. The exchange is the second-largest crypto exchange by derivatives transaction volume, as CoinMarketCap suggests.
Rising number of partnerships
There has been a rise in the number of partnerships when it comes to exchanges and football clubs. One of the most popular crypto exchanges, FTX, has been actively partnering in the sports industry. The firm recently promoted cryptocurrencies at the 2022 Super Bowl Game, as Cryptonary reported. On the other hand, the exchange also acquired the naming rights to Miami Heat's arena for a 19-year year, and the deal was worth $135 million.100% Success Money Back Guarantee
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