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Premiere League Clubs Under Investigation Over Dubious Crypto Partnerships

Mon, 11/29/2021 - 20:06
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Alex Dovbnya
The English Premiere League is investigating questionable crypto deals
Premiere League Clubs Under Investigation Over Dubious Crypto Partnerships
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The English Premier League will take a closer look at the increasing number of cryptocurrency deals signed by its clubs, The Times reports.
 
The top tier of the country’s football pyramid doesn’t regulate such partnerships.

The news comes after Manchester City had to put a cryptocurrency deal on hold after it came to light that none of the executives mentioned in the press release had any sort of online presence. This gave ground to speculation about whether or not the company actually exists.     

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According to the Times, the EPL itself is mulling over forming a tie-up with a non-fungible token platform for issuing digital collectibles.

Strapped for cash, clubs view cryptocurrencies and NFTs as a viable source of revenue, but they are also concerned about their negative impact on fans.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.