The UK Financial Conduct Authority (FCA), the country's primary financial regulator overseeing banking, insurance and investment markets, has warned Premier League soccer clubs against sponsorship deals with unauthorized cryptocurrency firms. In a letter sent on 2 Jun, the regulator cited rising partnerships that could expose clubs to legal, operational and reputational risks.
UK FCA Warns Premier League Clubs on Unregulated Crypto Firm Sponsorships
3 June 2026 - 11:00 CEST
The intervention coincides with heightened global attention on English football as the men's FIFA World Cup begins on 11 Jun. Fiona Mackinnon-Miller, head of the FCA's scams department, noted an increase in collaborations between clubs and firms operating without proper UK authorization, some potentially in breach of local laws.
Targeting crypto companies
The guidance focuses on cryptocurrency exchanges and trading platforms. A crypto exchange is a platform where users buy, sell and trade digital assets such as Bitcoin (BTC), the largest cryptocurrency by market capitalization, and Ethereum (ETH), a blockchain network supporting smart contracts and decentralized applications.
An FCA spokesperson told Sandmark the regulator would not name specific unauthorized firms or comment on ongoing engagements. "We have written to clubs where we have identified concerns," the spokesperson added.
Current examples include VT Markets, a forex, commodities and crypto derivatives broker, which sponsors Newcastle United, and OKX, a major global crypto exchange platform serving as Manchester City's "Official Cryptocurrency Exchange Partner." Neither is authorized by the FCA, though there is no suggestion of illegal behaviour from the firms or clubs.
Crypto and trading firms hold a smaller presence than gambling brands in the Premier League, the top tier of English professional football known for its global television audience and multibillion-dollar revenues. Eleven of the 20 clubs feature betting companies as front-of-shirt sponsors, while crypto groups appear mainly through sleeve, training kit, digital and official-partner arrangements rather than main shirt deals.
Rewards, potential risks
Premier League sponsorship delivers extensive brand exposure to international audiences outside the UK, where users can legally access certain services. These partnerships primarily serve as branding exercises rather than direct sales tools, which has traditionally kept them outside some financial regulations.
However, the FCA warned that accepting funds from unauthorized firms could breach the Financial Services and Markets Act 2000 and the Proceeds of Crime Act 2002. Clubs risk conferring legitimacy on entities operating beyond the regulatory perimeter.
The regulator urged clubs to perform thorough due diligence on the source of funds before agreements. It also reminded fans that sponsorship does not equal endorsement and advised checking FCA authorization before engaging with any firm.
A ban on gambling firms as main shirt sponsors begins next season in August, potentially creating openings for crypto and other sectors. Crypto firms spent a record $170mn on Premier League deals in the 2024/25 season, according to sports marketing agency SportQuake, as clubs prepare for the gambling restrictions.
