Vet crypto sponsors or face consequences, UK regulator tells Premier League clubs

Britain’s Financial Conduct Authority (FCA) has warned Premier League clubs to stop making sponsorship deals with unauthorized crypto firms and trading platforms risk exposing both fans and clubs to financial harm. 

The regulator insisted that Premier League clubs that sign sponsorship deals with crypto firms and trading platforms that are not allowed to operate in the UK are misusing the trust of millions of fans.  

Do Premier League teams sign deals with unauthorized companies? 

Top-flight football runs on cash and sponsorship deals have become the biggest source of income for many clubs. So for many of them, saying no to a big check is very hard.

Manchester City, the former Premier League champions, earned a massive €408 million ($475 million) from commercial and sponsorship deals in 2025, more money than the €332 million the club got from selling TV rights. 

While no individual companies were named in its warning, OKX, one of the world’s largest crypto exchanges and a Manchester City sponsor, is not registered with the FCA and agreed to pay over $500 million for violating U.S. anti-money laundering laws.

Lucy Castledine, the FCA’s director of consumer investments said through these partnerships, football clubs allow unauthorized financial firms to exploit the loyalty of millions of fans by putting “potentially dodgy products” in front of them. 

UK football clubs are now expected to run proper due diligence on financial services sponsors before signing, and to continue those checks on an ongoing basis. The FCA also confirmed it is coordinating with the UK government, the Premier League, and the Independent Football Regulator to address the issue across the sport.

What happens if clubs ignore the FCA’s warning? 

The FCA included in its statement that clubs that go ahead with partnerships with unauthorized firms will be potentially exposed to “legal liability, money laundering risks and serious reputational damage.” Some clubs have already been contacted regarding existing partnerships. 

The FCA’s actions are prompted by a number of previous incidents in which unauthorized sponsorships ended badly. 

For instance, FC Barcelona confirmed a partnership with a Samoa-registered firm Zero-Knowledge Proof back in November 2025, describing it as a data privacy project. Within days, ZKP began promoting a token sale. 

Barcelona was forced to issue a late-night statement insisting it had “no connection whatsoever” to the token and that no token activity was included in the sponsorship agreement. The former Barcelona director Xavier Vilajoana publicly asked the club to explain how it vetted the deal.

In a separate case, FTX had signed a 19-year, $135 million naming rights deal with Miami-Dade County for the arena housing the NBA’s Miami Heat, a $210 million partnership with esports organization TSM, and sponsorship agreements with Formula 1 team Mercedes-AMG Petronas, according to Stinson LLP. 

All three partners ended up in bankruptcy court seeking to exit their contracts.

In cycling, professional women’s team Canyon//SRAM terminated its partnership with the embattled cryptocurrency exchange Zondacrypto on June 2, citing alleged breaches of contract. The team is now removing all sponsor branding from its equipment, clothing, and digital platforms.

The FCA has urged supporters to check any financial services firm on its online Firm Checker tool before using their products. Any firm providing financial services that does not appear on the register is not regulated, and consumers will have no regulatory protection if something goes wrong.

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