The UK’s Financial Conduct Authority (FCA) has warned Premier League clubs to stop holding sponsorship deals with unlicensed cryptocurrency companies, as trading platforms risk exposing fans and clubs to financial harm..
Premier League clubs that sign sponsorship deals with cryptocurrency companies and trading platforms that are not permitted to operate in the UK are abusing the trust of millions of fans, the regulator has insisted.
Do Premier League teams sign deals with unlicensed companies?
Top-flight football is cash-driven, and sponsorship deals have become the biggest source of income for many clubs. So, for many of them, turning down a big check is very difficult.
Manchester City, the former Premier League champion, earned 408 million euros ($475 million) from commercial deals and sponsorship deals in 2025, a larger sum than the 332 million euros the club received from the sale of television rights.
Although no individual companies were mentioned in its warning, OKX, one of the world’s largest cryptocurrency exchanges and a sponsor of Manchester City, is not registered with the Financial Conduct Authority (FCA) and He agreed to pay more than $500 million For violating US anti-money laundering laws.
Lucy Castledine, director of consumer investments at the FCA, said that through these partnerships, football clubs are allowing unlicensed financial companies to exploit the loyalty of millions of fans by putting “potentially dodgy products” in front of them.
UK football clubs are now expected to conduct appropriate due diligence on financial services sponsors before signing, and to continue those checks on an ongoing basis. The FCA also confirmed that it is coordinating with the UK Government, the Premier League and the Football Association’s Independent Authority to address the issue across sport.
What happens if clubs ignore the FCA warning?
FSA included In her statement Clubs that go ahead with partnerships with unauthorized companies are likely to be exposed to “legal liability, money laundering risks and serious reputational damage.” Some clubs have already been contacted regarding existing partnerships.
The FCA’s actions were prompted by a number of previous incidents in which unauthorized sponsorship ended badly.
For example, FC Barcelona confirmed its partnership with Samoa-registered Zero-Knowledge Proof in November 2025, describing it as a data privacy project. Within days, ZKP began promoting the token sale.
Barcelona were forced to issue a late-night statement insisting it had “absolutely no connection” with the symbol and that no symbolic activity was included in the sponsorship agreement. Former Barcelona manager Javier Villaguana publicly asked the club to explain how the deal was examined.
In a separate case, FTX signed a 19-year, $135 million naming rights deal with Miami-Dade County for the arena that includes the NBA’s Miami Heat, a $210 million partnership with esports organization TSM, and sponsorship deals with Formula 1 team Mercedes-AMG Petronas, according to Stinson LLP.
The three partners ended up in bankruptcy court seeking to terminate their contracts.
In cycling, the Canyon // SRAM women’s professional team has ended its partnership with… Besieged cryptocurrency exchange Zondacrypto on June 2, citing alleged breaches of contract. The team is now removing all sponsor branding from its equipment, apparel and digital platforms.
The FCA has urged supporters to check any financial services company on its online Firm Checker tool before using their products. Any company providing financial services that does not appear on the register is not regulated, and consumers will have no regulatory protection if something goes wrong.
