Sponsorship: Icrypex acquires naming rights to the Besiktas JK basketball club, pays in bitcoins

Icrypex, a Turkish cryptocurrency company, has become the title sponsor of the Besiktas JK basketball club in Turkey, from 2020-21, announced on 22/01/2021. This agreement is being paid for in bitcoins, up to 42 bitcoins, or 1.1 million euros as of the date of signing of the agreement.

"We have signed a partnership agreement via bitcoins for the first time in the world," Icrypex explained. In 2019-20, the Knaken cryptocurrency exchange platform signed an agreement with Sparta Rotterdam (Eredivisie): the club won bitcoins based on its sports results. Seven Premier League clubs also had sponsorship deals with the eToro trading platform in 2018-19, all of which were paid in bitcoins.

David Barral's (ESP) transfer was the first to be paid in bitcoins on 15/01/2021. Criptan, a currency exchange platform, took advantage of its new partnership with DUX Internacional de Madrid (Segunda B, Spanish third division) to organize this operation. For now, the Spanish Football Federation (RFEF) has not confirmed the validation of this transfer. This could just be a communication issue.

On the…