Liverpool could be on the cusp of signing a shirt sponsorship deal with a cryptocurrency firm
According to the Athletic (Subscription Required), Liverpool are discussing a new shirt sponsorship deal, with interested parties also including a cryptocurrency exchange firm as well as a blockchain platform. Apart from this, it is also believed that the club is talking to firms related to electronics, media, and tourism.
The Reds have a current sponsorship deal with Standard Chartered that is valued at £40 million-a-year and expires in May 2023. Whilst many English clubs have signed deals with Cryptocurrency firms, it could be a first where a PL club could actually flash them as their main shirt sponsor.
It is no breaking news that we can at times struggle to match the spending spree that has become almost synonymous with our arch-rivals Manchester City amongst others. The Merseysiders could hence be desperate to financially compete with such other elite clubs and look for a way to maximize their current commercial deals.
To block or not to block
We have seen the game pivot towards a more commercial setup in the last few years, which should be acknowledged by us should we keep abreast with the top of the cream in England and Europe. Liverpool are hopeful of finalising a prospective deal that could rake in more than £70million in revenue over two seasons in the next eight weeks.
Whilst Cryptocurrency and blockchain showcase immense potential, one should also be wary of their environmental hazards as it takes an enormous amount of computing power to operate them. Apart from that, this sector is largely unregulated which can make it prone to fraud and risky or shady transactions.
While the financial firepower is necessary, the Anfield outfit stands for much more than just a football club. It is a symbol of hope for millions of supporters across the world. With such a great following comes even greater responsibility and should therefore assess every party that we plan on associating ourselves with.
Socios is one of the most prominent cryptocurrency sponsors in the Premier League as they sell fan engagement tokens. They currently have deals with Arsenal, Aston Villa, Crystal Palace, Everton, Leeds United, and Manchester City. It should be noted that the fans of Palace recently held up a board that accused the firm of being ‘parasites’.
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It is time that we welcome any new revolution taking place. The club even sold its first round of NFTs this season. That being said, we hope that the club hierarchy will take all different factors into consideration before signing any new deal as football is first and foremost for the fans and the beautiful emotions attached to it.
Blockchain divides opinions because of how it is relatively unregulated and the computing power required to maintain it- harming the environment in the process. Fans were largely not in favour of the NFTs that the club released and it remains to be seen what reaction the club receives if it puts pen to paper on such a shirt sponsorship deal.
