The partnership between the football association UEFA and the Singaporean crypto exchange Crypto.com has burst. With that, the UEFA escaped loudly sports business one of the largest sponsorship partnerships in history. Crypto.com would have paid a whopping $495 million for a five-year deal with the Football Association.
Actually, Crypto.com was supposed to fill the advertising space left by the Russian gas producer Gazprom. From this the association had separated in the course of the Ukraine war.
The reasons for Crypto.com’s late exit from the deal are not yet known. Recently, however, the exchange has lost important income because of the situation on the crypto market, and it has also repeatedly come under criticism because of its enormous marketing expenses.
Actually, the crypto exchange also sponsors the World Cup in Qatar in November. Whether this deal could also burst remains to be seen.