The cooperation between football association UEFA and the Singaporean crypto exchange Crypto.com has cracked. According to Sportbusiness, UEFA thus missed out on one of the largest sponsorship partnerships in history. Crypto.com is said to have paid a whopping $495 million for a five-year deal with the Football Association.
Actually, Crypto.com was supposed to fill the advertising space left by the Russian gas producer Gazprom. From this the association was separated in the course of the war in Ukraine.
The reasons for Crypto.com’s late departure from the deal are not yet known. However, the exchange has lost significant revenue recently due to the crypto market situation and has also been repeatedly criticized for its huge marketing costs.
In fact, the crypto exchange is also sponsoring the World Cup in Qatar in November. Whether this deal too can burst remains to be seen.