se retire d pulls out of $495m UEFA Champions League deal


Citing legal reasons, finally cancels its contract with the UEFA Champions League. The deal, which amounted to $495 million and which was to allow to display its brand for five seasons, was canceled at the last minute. cancels its contract with UEFA

It could have been one of the lucrative deals in UEFA history: canceled at the last moment $495m Champions League deal. Present all around the world, is today one of the most important exchanges of which we have already made a complete presentation.

The deal was to allow to make its mark throughout the annual UEFA competitions over a period of 5 yearsfor $99 million per season. Thus, the exchange had to take the place of Gazproma giant of the Russian gas industry, whose sponsorship had been canceled in March by the governing body of European football following the conflict between Ukraine and Russia.

According to the information first revealed by our colleagues from Sports businessan agreement in principle had already been reached and the contract was about to be signed. Thus, this is about the latest cancellation to take place in UEFA history.

Although was forced to lay off 5% of its staff a few months ago following the difficulties caused by the bear market, the reasons given for the cancellation of this contract seem not to be financial.

Rather, according to Sport Business, it is due to the barriers encountered by the exchange with the various European regulatorsparticularly in France, concerning its trade and operating licenses.

👉 Football fan? Create your own football team in the form of NFT with Sorare

Play and collect cards in NFT format

Thousands of € of crypto to be won

toaster icon

Investing in cryptocurrencies is risky (learn more)

In the footsteps of FIFA and sport

Although this agreement with, which would still have allowed UEFA toearn almost double what Gazprom offeredhas been cancelled, the European Champions League is full of sponsors. We find among them PlayStation, Lay’s, Mastercard, FedEx or Just Eat among the official sponsors.

For its part, remains familiar with the sports field and in particular that of football after having concluded a partnership last March in order to become the fifa world cup exclusive crypto sponsor which will take place in Qatar from November 20.

His most impressive feat of arms will still remain theacquisition of the legendary Staples Center in Los Angeles for the pharaonic sum of 700 million dollars last November.

According Sunny SinghCEO of Van Hawke Agency, numerous sports marketing deals involving cryptocurrencies are currently on hold following the fallout from the bear market.

👉 Read also – Arena: The mythical Los Angeles Lakers hall will be renovated

The most complete crypto application

Up to $50 offered with the code CRYPTOAST

toaster icon

Investing in cryptocurrencies is risky (learn more)

Source: Sport-Company

Newsletter 🍞

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

Leave a Comment

Your email address will not be published. Required fields are marked *