Watford FC players, an English football team from the Premier League, have officially started to wear Dogecoin (DOGE) logo on their shirts. According to The Athletic, the deal is part of a sponsorship agreement with crypto-betting platform Stake.com that expects to see the team wearing the logo at their sleeves throughout the season at the top-tier football league.
Figures revealed that the agreement is worth $970,000 approximately and it was first announced by the betting platform in July, with a giveaway of 10 million DOGE, or $3.5 million, on its platform. Moreover, the sponsorship will be reportedly paid in cryptocurrencies, and it just asks the team players to wear the Shibu Inu meme-inspired coin and no other crypto. As a curious fact, the debut of Dogecoin at Watford FC sleeves was marked by a victory of the team of 3-2 against Aston Villa on Sunday.
But this is not the first time that Watford FC arranges a sponsorship deal related to the crypto sphere. In fact, as Finance Magnates reported in 2019, the football club used the Bitcoin (BTC) “B” logo during that season as part of an agreement with the crypto-friendly sports betting platform Sportsbet.io. Watford FC merchandise could also be purchased with cryptos at that time.
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Cryptos and Sports Sponsorships
Overall, the crypto industry has also shown interest in sports globally by arranging deals that give exposure to venues or teams exchanges. One of the most notable ones saw Crypto.com inking a massive sponsorship deal with the top mixed martial arts organization, Ultimate Fighting Championship (UFC). The deal reportedly involved the payment of $175 million over ten years.
That said, the Hong Kong-based cryptocurrency company became the first official fight kit partner of UFC. The multi-year deal seeks to put the branding of Crypto.com on the fight kit items used throughout UFC, including athletes’ apparel.