Crypto.com verléisst $ 495 Milliounen Sponsorship Deal mam Champions League Fussball: Bericht

Crypto.com has pulled out of a massive sponsorship deal with the European Champions League (UEFA) at the “last moment” earlier this summer, SportBusiness gemellt haut.

The deal was reportedly going to run for five seasons and would have cost the crypto exchange roughly 100 million euros per season, or $99 million a year, making the now-lost overall deal worth a hefty $495 million.

Prior to negotiations with Crypto.com, UEFA had been sponsored by Russian natural gas company Gazprom—a deal the league canceled in March following Russia’s invasion of Ukraine. Crypto.com had been slated to replace Gazprom.

Crypto.com negotiations did not fall through due to the ongoing crypto bear market, according to the report.

While its Crypto.com deal has dissolved, UEFA has plenty of other existing sponsors. According to its Websäit, the league has active deals with Lay’s, Heineken, Mastercard, Fedex, and Sony PlayStation, to name a few.

Since buying naming rights for the Crypto.com arena in Los Angeles for $ 700 Milliounen a sengen much-memed "Fortune favoriséiert de Brave" Publicitéit with Matt Damon last year, the marketing department at the crypto exchange has kept busy. 

Crypto.com has continued to venture into sports partnerships, signing a deal to sponsor the FIFA WM this year. The exchange is also a sponsor for the Philadelphia 76ers NBA team, and made a $100 million deal with Formel 1 Rennen.

But the exchange also suing a woman after sending her $ 10 Milliounen by accident. And Crypto.com has been mired in layoffs, with a first round back in June and a larger, zweet Ronn vun Entloossungen dëse Mount. 

Regardless, the exchange appears to still be investing in expanding its reach. This month, Crypto.com was approved to operate in the Vereenegt Kinnekräich and has plans to expand into Südkorea och.

Crypto.com and the UEFA have not yet responded to DecryptDemande fir Kommentar.