The UK’s Financial Conduct Authority (FCA) has issued a stern warning to Premier League football clubs, cautioning that sponsorship agreements with unauthorized crypto firms could expose millions of fans to financial harm and create significant legal, money laundering and reputational risks. The regulator has written directly to several clubs after identifying concerns that some crypto companies and trading platforms are using high‑profile football partnerships to promote financial products without the required authorization.
Lucy Castledine, director of consumer investments at the FCA, highlighted that millions of fans place deep trust in their clubs and should not be subjected to potentially unsafe offerings through such deals. “Clubs should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans,” she said. The FCA stressed that customers using unregulated firms risk losing all their money and would likely have no access to regulatory protections if something goes wrong.
The warning arrives as the FCA builds a comprehensive crypto regulatory framework. Under the current timetable, crypto companies can apply for authorization from 30 September 2026, with the full regime taking effect on 25 October 2027. The regulator noted that unauthorized firms could be breaching the UK’s financial promotion rules simply by having their branding on Premier League shirts or other club assets, reaching vast supporter bases.
The issue is financially significant for clubs. Deloitte data shows that commercial and sponsorship income has overtaken broadcasting revenue for many, with Manchester City alone generating €408 million ($475 million) in commercial activities in 2025. UK Sports Minister Stephanie Peacock acknowledged sponsorship’s importance but said supporters deserve confidence that associated companies are safe and accountable.
The most prominent Premier League crypto sponsorships are OKX (sleeve sponsor of Manchester City) and Kraken (sleeve sponsor of Tottenham Hotspur). Kraken is listed on the FCA’s register of authorized crypto firms, while OKX is not. The FCA’s letter explicitly warns clubs about unauthorized firms like OKX, indicating potential enforcement if clubs continue enabling such promotions. Neither Manchester City nor OKX had responded to requests for comment at the time of reporting.
