UK regulator warns soccer clubs over crypto sponsorship risks

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UK regulator warns on crypto sponsorship

Highlights

UK Financial Conduct Authority sent a letter warning soccer clubs about sponsorship deals with unauthorized crypto firms not permitted to operate in the UK.
The FCA cautioned clubs that funds from unauthorized firms could constitute criminal property under the UK's Proceeds of Crime Act.
The regulator is already contacting clubs with identified concerns and is coordinating with the Premier League and Independent Football Regulator to address crypto sponsorship risks.

FCA letter sets out sponsorship concerns

As reported by The Block, the Financial Conduct Authority said in a Wednesday press release that it has sent a letter to soccer clubs warning them not to expose fans to financial risks through sponsorship agreements with crypto firms that are not permitted to operate in the UK.

The regulator said several unauthorized crypto and trading platforms have targeted unwitting football fans through deals with sports clubs. Lucy Castledine, director of consumer investments at the FCA, said millions of football fans trust their club's badge and that clubs should not allow unauthorized financial firms to use that loyalty to promote potentially dubious products.

In the letter, Fiona Mackinnon-Miller, who leads the FCA department overseeing scams, promotions and consumer investments, told clubs to understand the source of sponsorship funds and assess whether such arrangements could expose them to financial crime risks or reputational damage. The FCA also warned that money received from unauthorized firms could in some cases amount to criminal property under the UK's Proceeds of Crime Act.

Pressure builds on clubs and crypto marketing

The regulator does not name the clubs or transactions it considers risky, but says it has already contacted some clubs directly where it has identified concerns. It adds that it is working with the government and partners including the Premier League and the Independent Football Regulator to address the issue across the sport.

The warning lands as several global crypto firms maintain sponsorship ties with major UK soccer clubs. OKX has a shirt-sleeve sponsorship agreement with Manchester City, while BingX sponsors Chelsea, underscoring how closely crypto marketing and elite football remain linked even as regulatory scrutiny increases.

In our earlier article on the FCA’s warning to Premier League clubs about unauthorised crypto sponsorships, we explained that the regulator said accepting funds from firms not authorised to operate in the UK could expose clubs and fans to harm and even trigger enforcement action. The piece also noted that clubs should verify the source of sponsorship money, since proceeds from unauthorised firms could be treated as criminal property, and highlighted how these compliance and reputational risks are rising as crypto marketing remains tied to elite football.

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