Cryptocurrency exchange OKX has expanded its partnership with English Premier League football club Manchester City, becoming the team's official sleeve sponsor.
In the new multi-year agreement, OKX will pay Manchester City more than $70 million over the course of the three-year relationship, according to a Forbes report. The left sleeve of both the men's and women's first-team player jerseys bears the OKX logo.OKX became Manchester City's official crypto partner in March 2022 and expanded its deal to sponsor the team's training gear a few months later. Manchester City achieved a historic 'triple crown' by winning three major league titles last season.
Manchester City earned $780 million last season, making it the highest-grossing football team in the world. With an estimated $1.6 billion, the club has the most valuable brand of any football team in the world, according to Brand Finance.
"Our partnership with Manchester City aims to help the world learn more about blockchain and its use cases, including what we can do with our partners beyond Fan Tokens," said OKX CMO Haider Rafik. ' said. "We believe the Web3 infrastructure will give fans more transparency and ownership, and new ways to interact with their favorite players."
Consequently, a free NFT honoring Manchester City's UEFA Champions League victory and the OKX Collective Metaverse Experience with team stars was just released by OKX.
Headquartered in Seychelles, OKX has over 50 million users in 180 markets. However, the company's cryptocurrency exchange is not available in the US and Canada. Manchester City's contract extension has seen sports clubs still interested in hiring crypto sponsors, despite widespread ramifications for the sponsoring team following the collapse of rival exchange FTX last November.
Manchester City players that include Jack Grealish and Alex Greenwood are also OKX ambassadors. The company's other sports sponsorships include deals with Formula 1 team McLaren Racing and LIV golf team Majestics GC.
