The Rise Of Crypto Sponsors In Sport - How Football Is Hedging Its Bets
The UK Government, following their recent “comprehensive review” of gambling lawsis considering regulating the use of betting companies in English football, which may include a ban on being the main front-of-shirt sponsors.
This could have a profound impact. Last season, nine of the twenty Premier League clubs had gambling companies as their front-of-shirt sponsor, as well as another six teams in the Championship.
Teams are however already looking elsewhere for sponsors, and these are increasingly coming from the Cryptocurrency sector – A sector which comes with its own set of challenges and concerns.
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Felix Vetter is a Managing Director at Ankura Consulting Group LLC. He is a forensic accountant with over 12 years of experience, specializing in leading complex, high-profile, multi-jurisdictional investigations into areas including fraud, financial statement manipulation, bribery, and corruption. He has experience working on forensic engagements in Europe, Russia, Africa, Middle East, and Asia Pacific where he has led investigations and compliance reviews across a broad range of industrial sectors.