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Crypto.com: UEFA Sponsorship Deal Appears to Be Falling Through

Crypto.com has pulled out at the last moment from a sponsorship deal with the UEFA Champions League.

By Finst News
• 2 min read
Crypto.com: UEFA Sponsorship Deal Appears to Be Falling Through

Crypto.com, the crypto exchange, pulled out at the last moment from a sponsorship deal with the UEFA Champions League. The deal would have been one of the biggest in the football federation's history.

The partnership between the UEFA football federation and the Singapore-based crypto exchange Crypto.com has fallen through. According to SportBusiness, UEFA is missing out on a staggering amount of sponsorship money. Crypto.com would have paid about 495 million US dollars for a five-year contract with the football federation.

Crypto.com had actually planned to fill the advertising space left by the Russian gas producer Gazprom. The federation distanced itself from Gazprom during the Ukraine war.

Reasons for Crypto.com's late withdrawal are not yet known. Recently, however, the exchange has seen significant revenue slippage due to the state of the crypto market, and it has also faced criticism for its massive marketing spend. In fact, the crypto exchange also sponsors the FIFA World Cup in Qatar, which takes place in November. Whether this deal can still fail remains to be seen.

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