Bobos & Wojaks

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Liverpool To Make £70m Crypto Shirt Sponsor Deal Soon

According to rumors, Liverpool is negotiating a deal that would make them the first Premier League club to have a cryptocurrency corporation as their principal jersey sponsor. After being the club’s principal shirt sponsor since 2010, their £40 million-a-year arrangement with Standard Chartered is due to expire at the end of the season.

Liverpool is now searching for a deal worth more than £40 million per season, and the company is considering ‘channeling its resources elsewhere.’

According to The Athletic’s David Ornstein, “discussions about extending their collaboration are continuing,’ but the Reds are now ‘talking to corporations from areas including electronics, media, and tourism.”

Among them are ‘businesses from the cryptocurrency sector,’ with Liverpool speaking with a ‘crypto exchange firm — a platform to buy and sell digital currency — and a blockchain platform (a decentralized computer network that supports cryptocurrencies).’

They would not be the first Premier League club to ink a deal with a cryptocurrency corporation, but they would be the first to do so as their primary jersey sponsor, which is likely to be a contentious move.

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The Merseysideiders are desperate to compete financially with other elite clubs and maximize their commercial arrangements with a prospective pact bringing in more than £70 million over two seasons.

Ornstein continues to illustrate why a deal would be contentious, saying: ‘There are a lot of environmental concerns about blockchains, which require vast computing power to operate, and the sector is largely unregulated and is closely associated with financial speculation.

Fans may be exposed to risk if they buy and sell cryptocurrency on exchanges for financial gain or loss.