Cryptocurrency Stock exchange OKX has signed an agreement with English Premier League champions Manchester City to have their logo featured on the front of their training jerseys for the 2022/2023 football season.
OKX Signs $12M Annual Sponsorship Agreement with Manchester City
According to the agreement announced on Monday after a few more sluggish months in terms of crypto sports sponsorship links, OKX will also be the promotional partner of the Man City Trophy Tour 2022, which will be held for the first time since 2019.
City AM reported that the deal is worth £10m ($12m) per season. OKX did not respond to a request for comment on this figure.
OKX has also commissioned street artist Akse P19 and the Global Street Art Agency to produce artworks by Manchester City players Erling Haaland, Jack Grealish, Joao Cancelo and John Stones at four locations in Manchester.
OKX was announced as the official cryptocurrency exchange partner of Manchester City in March.
The deal comes after Tezos opted to sponsor the training kits of rival club Manchester United in February. The deal was reportedly worth around £20m a year.
Until recently, record-breaking sponsorship deals were made between crypto companies and sports clubs.
In November 2021, Crypto.com spent $700 million over the next 20 years to name the Staples Center in Los Angeles.
Borsa also signed a $175 million deal with the Ultimate Fighting Championship league, owned by Endeavor, for logos on athletes’ jerseys, and a $100 million sponsorship deal with Formula 1.
*Not investment advice.