Summary
- The Financial Conduct Authority has issued warnings to Premier League teams regarding partnerships with unauthorized crypto and trading firms.
- According to the FCA, these companies may be violating UK financial services regulations by operating without the necessary authorization.
- The UK's Sports Minister supported the FCA's stance, emphasizing that fans deserve to engage with "responsible, accountable and safe" businesses.
The Financial Conduct Authority (FCA) in the UK has alerted football clubs, including those in the Premier League, about potential breaches of financial services regulations due to sponsorship agreements with unauthorized cryptocurrency firms and trading platforms. Such partnerships could jeopardize fan safety.
In a letter, Fiona Mackinnon-Miller, the FCA's Head of Department for Scams, Promotions, Engagement & Perimeter, indicated that the regulator has noticed a rise in collaborations between football clubs and unauthorized entities, some of which may be operating illegally.
She pointed out that these firms seem to be offering regulated services without appropriate authorization and engaging in unauthorized financial promotions, both of which are criminal activities, exposing the clubs to “legal, operational and reputational risk.”
Lucy Castledine, director of consumer investments at the FCA, remarked that unauthorized financial entities, including crypto companies, might be in violation of UK laws by providing services without the required licenses.
“Millions of football fans place trust in their club's badge,” stated Castledine, urging clubs not to allow unauthorized financial firms to take advantage of that loyalty by presenting potentially dubious products to millions of supporters.
She stressed that just because a company’s logo appears on a team jersey does not equate to regulatory endorsement. "A logo on a shirt signifies one thing: that the company paid for it," she clarified, encouraging fans to utilize the regulator’s Firm Checker tool before purchasing any financial product.
Sports Minister Stephanie Peacock expressed her support for the FCA's actions, asserting that while sponsorship agreements are crucial for maintaining the football pyramid, fans have the right to know that the businesses linked to their clubs are responsible, accountable, and safe.
Crypto and Football Sponsorship
This regulatory scrutiny comes at a time when sponsorship deals are becoming increasingly important for club revenues. According to Deloitte, commercial earnings have surpassed broadcasting as the primary revenue source for leading teams, with Manchester City generating $475 million (£353 million) in 2025, compared to $386 million (£287 million) from broadcasting rights. This shift has made clubs appealing targets for crypto companies aiming for mainstream exposure through sports marketing.
The FCA is collaborating with the government, the Premier League, and the newly established Independent Football Regulator to tackle unauthorized financial service promotions across professional football. This multi-agency strategy underscores rising concerns that unlicensed firms are leveraging high-profile club sponsorships to connect with mainstream audiences while evading regulatory scrutiny.
UK authorities have previously scrutinized the role of cryptocurrencies in football, with the House of Commons warning against clubs utilizing fan tokens in 2023, highlighting the risks posed by unregulated digital assets marketed to fans.
The FCA has consistently taken action against unlicensed crypto operations in the UK, including its recent involvement in multi-agency raids targeting London establishments suspected of illegal peer-to-peer crypto trading.