UK Regulator Warns English Premier League Clubs

The UK's Financial Conduct Authority (FCA) has urged English Premier League clubs to refrain from entering sponsorship agreements with unlicensed financial firms, particularly crypto platforms. The regulator notes that such partnerships are drawing fans into risky investment schemes lacking any protection. Cointelegraph.com reports this. reports .

In an official statement, the FCA stated that several unauthorized firms are exploiting the prestige of football clubs to target inexperienced fans. The watchdog warned that these companies may be violating UK law and that users dealing with them risk losing all their funds.

The regulator sent a letter directly to football clubs, warning that unlicensed financial partners could not only harm fans but also expose the clubs themselves to legal liability, money laundering risks, and severe reputational damage. Clubs are required to conduct thorough due diligence on every sponsor.

Currently, many crypto brands are actively entering the football market. For instance, LAK3 Company, which partners with Wolverhampton Wanderers, has already been added to the FCA's 'blacklist' of unauthorized firms. Additionally, BingX and OKX platforms, partnering with Chelsea and Manchester City, were found unregistered in the FCA registry.

The FCA plans to further tighten crypto-asset regulations by 2027. The regulator aims to curb high-risk financial promotions by controlling retail platform advertising in stadiums and on jerseys.