Major Soccer League participant Nashville SC partnered with digital asset investment manager Valkyrie Investments. The latter vowed to pay his sponsorship fee entirely in bitcoin.
First MSL team to accept BTC sponsorship payment
One of the major American football teams – Nashville SC – has dived into the world of crypto by signing a deal with Valkyrie Investments. As part of the agreement, the Premier Club, located at Nashville SC Stadium, will be renamed the Valkyrie Premier Club. In addition, football players will have the company logo embroidered on their training tops.
The football team did not disclose the amount of the deal. However, it was revealed that Valkyrie Investments would pay it entirely in bitcoin. Thus, Nashville SC will become the first Major League Soccer club to accept a primary digital asset as a sponsorship settlement.
Dan Farrell – the team’s vice president of corporate partnerships – said that the collaboration “provides a platform to connect sports and entertainment to local ties and crypto in the hottest city in the United States.” Accepting bitcoin as a payment method embodies the club’s ambition to be a leader “on and off the pitch”.
Also speaking on the matter was Valkyrie Investments CEO Leah Wald. In his view, football is “a community-driven sport”, and the deal could increase the popularity of crypto in the region.
“This partnership with Nashville SC is a natural fit for both of us and is a part of our broader efforts to help establish Music City as a global hub for blockchain and digital assets,” she concluded.
Similar trick from AZ Alkmaar
Nashville SC is the first MLS team to receive sponsorship funding in digital assets, but it is not the first globally.
Last year, AZ Alkmaar entered into an agreement with Dutch crypto provider Bitcoin Meester. As a result, the latter became the exclusive partner of the football team and vowed to give part of the sponsorship money in bitcoin. Additionally, AZ Alkmaar insisted that it would keep the received BTC on its balance sheet. Michael Koster – the team’s commercial director – explained the reasons behind the agreement:
“With the exponential growth of users in recent years, the cryptocurrency market has been booming. It is tempting, but it is in a brand new market that some direction is important. Not everyone is already familiar with cryptocurrencies, and Bitcoin Meester is looking forward to this. able to responsibly guide new users into the world.”
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