eToro has announced a major partnership with seven Premier League clubs, including 2015-16 Champions Leicester City, in a deal specifically aimed at promoting Bitcoin.
There have been other deals similar to this one, but this latest partnership dwarfs all of them. It makes eToro the exclusive and official cryptocurrency partner for up to seven teams, enabling players from these teams to receive payments through Bitcoin through the eToro digital wallets. On the other hand, it will give eToro brand prominent placement through multiple advertising channels including match day LED boards, digital rights, tickets among many others.
Since the inception of the company in 2006, Israel-based eToro has become a key player in marketing and promoting Bitcoin. In 2016, the company launched a massive social trading TV ad campaign in the United Kingdom, and this latest move to facilitate transparency and financial accountability in the EPL shows just how much they are willing to popularize Blockchain technology and Bitcoin.
Through his official Twitter handle, eToro UK managing director Iqbal V. Gandham stated: “We’ve done a sponsorship deal, but rather than pay them in traditional pound notes we’ve paid them in bitcoin…. What they choose to do with that is entirely up to them.”
Through a series of other tweets, Gandham implied that through this new partnership, teams that had chosen to partner with them are going to experience the impact of using Bitcoin in the multi-billion transfer window. This is inclined to be more visible in making the transactions cheaper, faster and more transparent than what the GBP offered.
In replies, to the news, Southampton FC’s commercial director tweeted that the club was extremely delighted to be welcoming eToro as one of the club’s partners and that they were looking forward to ‘learning more and see what impact blockchain technology and cryptocurrency can have in football.’ This was also the same message conveyed by Fran Jones, head of partnerships at Tottenham Hotspur, who said that they are ‘committed to technology and innovation and are excited to welcome eToro as a partner.
Other clubs that inked a deal besides Leister City, Southampton FC and Tottenham FC with eToro include Crystal Palace FC, Newcastle United, Brighton & Hove Albion and newly promoted Cardiff City FC.