Football and cryptocurrency collaboration is no longer becoming news as major football clubs are delving into crypto-related deals. A major European football club PSV Eindhoven receives a Bitcoin sponsorship deal.
After reaching an agreement with Dutch crypto startup Anycoin Direct, PSV Eindhoven has become the first European football team to have its full sponsorship paid in Bitcoin.
According to a statement made on Aug. 17, the first-of-its-kind cooperation, which aims to raise cryptocurrency awareness in Europe, will run for two seasons.
PSV’s commercial director, Frans Janssen, has already constructed the cryptocurrency wallets required for payment and holding crypto.
Janssen stated in a statement that the club’s proclivity for innovation makes Bitcoin a suitable fit:
The possibilities and the future that the world of cryptocurrency offers are very promising. As a club in the heart of the Brainport region, we are always innovating, cryptocurrency fits well into this picture.
PSV will be paid 400,000 euros per season, according to the Dutch publication Eindhovens Dagblad.
The arrangement guarantees undefined guaranteed returns in the case of a price reduction, taking into account Bitcoin’s volatility.
This isn’t PSV’s first excursion into the cryptocurrency world. On the Ethereum-based platform Momentible, the club auctioned off its historic victory in the 1988 European Cup Final as a non-fungible token in April.
Southampton Football Club, according to U.Today, secured a sponsorship contract in April that includes Bitcoin-based performance bonuses.
