Cryptocurrency exchange CryptoCom has announced that it has withdrawn from the UEFA Champions League football tournament sponsorship deal.
The Singapore-based company co-founded Angel City Football Club, a Los Angeles-based women’s soccer team, last year. Crypto.com, which has partnerships in Formula 1, UFC and many sports, has not completed the contract, which is worth over $ 100 million, according to the news in Sport Business.
Crypto.com Relinquishes Champions League Sponsorship
Crypto.com has reportedly pulled out of its five-year sponsorship deal with the UEFA Champions League.
Sponsoring the Champions League was one of the exchange’s few other marketing deals in the world of sports, including the Qatar World Cup that will take place in March. However, Crypto.com withdrew from the five-season deal worth $100 million, which would replace Gazprom in the final hours of the deal.
Although Crypto.com has given up its sponsorship of the UEFA Champions League, it will continue its activities in the field of sports. As the official sponsor of the UFC, it will feature in UFC outfits worn by athletes in competitions. He also signed a $700 million deal to rename the Staples Center in Los Angeles to Crypto.com Arena.
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