OKX has decided to increase its economic commitment, and become an official partner of Manchester City Football Club, which is one of the English Premier League’s most successful teams. The exchange has put in another $20 million, thus boosting the already substantial agreement concluded with the club last spring.
This is a confirmation of the solidity of OKX, which through soccer and Formula 1 is becoming a special competitor for Binance, which has always played a leading role in the sport that matters and in particular in the biggest soccer leagues. The Maltese OKX platform provides cryptocurrency exchanges, including Bitcoin, and is the world’s second-largest global derivatives exchange.
OKX exchange is now expanding its partnership with Manchester City, therefore becoming the soccer club’s official training partner. The blockchain exchange platform also shared the news on its official Twitter account.
OKX will sign English soccer players’ technical equipment in exchange for a significant increase in sponsorship. A three-year sponsorship is involved in this partnership, which has a commercial vocation.
In this partnership, Manchester City and OKX will offer new services and “experiences” to OKX customers, while OKX will benefit from a great deal of advertising space, just as you see Crypto.com’s logos on Formula One race cars and Coinbase’s logos appearing in sports teams. In addition, the deal guarantees the OKX exchange the right to be “present” at the Etihad and Academy Stadiums. The Etihad Stadium is the most populated stadium in the United Kingdom, and the two stadiums together can hold more than 60,000 spectators—or potential OKX exchange customers.
It is estimated that the deal will give approximately 20 million more to the players this season than the last. There is also a possibility that CITY, the club’s official token, may show some nice flickers in the market. These moves could mean detente for the markets, which may see OKX’s moves positively. An expected headcount expansion of +30% would be part of the exchange’s plans.
As other players cut and lay off workers, FTX stands ready to save the whole industry. In these days of the bear market every now and then comes some signs of recovery to soothe tempers. However, the big soccer clubs seem to care little for dark times or temporary swings and keep investing in cryptocurrencies. Speaking about the Citizen’s curve, it is the recent news of Ethiad launching an NFT collection dedicated to the liveries of its aircraft. It would therefore be impossible to miss Manchester City’s spectacular jet, whose light blue coloring was reproduced on the tokens issued by the company.
This makes us understand how the connections between cryptocurrencies and soccer are becoming more important. Manchester City is challenging Manchester United on the same playing ground, and the match is now critical for exchanges ready to play this game. OKX goes to challenge Binance on CZ’s favorite playing ground, which has now got its hands on the top soccer divisions on every continent. OKX, which on the other hand has made deals with McLaren, does not seem to fear the bearish trend of the markets at all.