UFC partners with Crypto.com – Sources say a $ 175 million deal is the MMA company’s largest sponsorship deal – Bitcoin News
Cryptocurrency exchange Crypto.com announced that it has partnered with Ultimate Fighting Championship (UFC) as the company’s global combat kit partner. According to reports from people familiar with the matter, the partnership is a ten-year contract valued at $ 175 million and the UFC’s largest sponsorship deal to date.
UFC Names Crypto.com First Global Combat Kit Partner
Digital currency company Crypto.com has teamed up with the UFC to become the global combat equipment partner of the Mixed Martial Arts (MMA) organization. This means that the Crypto.com brand will be featured on UFC fighter uniforms and the brand will be displayed this Saturday July 10th during the match between Dustin Poirier and Conor McGregor. The UFC has been run by Dana White since 2001, and since he became president of the MMA organization, the UFC has grown into a multi-billion dollar company.
According to unnamed sources speaking to publications like sportico.com and CNBC, the sponsorship deal is the largest in UFC history. As early as March, the UFC entered into a partnership with Draftkings, which is said to be worth $ 100 million. Those familiar with the matter said the Crypto.com deal with the UFC was valued at around $ 175 million and a ten-year term.
MMA organization has cryptocurrencies on its radar
UFC COO Lawrence Epstein mentioned during the announcement that cryptocurrencies are now on the company’s radar.
“If we’d talked a few years ago, crypto might not have been on the radar, but it’s kind of a sign of the times,” Epstein told sportico.com. “It’s new, but it’s moving fast and it’s very dynamic.” He also stated that the company was drawn to the young consumer base and demo from Crypto.com. “In general, this consumer is younger, and based on the data we’ve seen, this consumer also has a decent disposable income. It’s an attractive group to try to get interested in your product. “
The deal between the UFC and Crypto.com follows the variety of partnerships between crypto firms and sports companies. FTX Trading Limited is ahead of the game when it comes to sports partnerships with recent deals with MLB, TSM and even Super Bowl champion Tom Brady. The NBA’s Portland Trail Blazers recently teamed up with crypto cashback company Stormx.
Crypto.com is following this trend and the $ 175 million deal with UFC is a pretty sizeable investment if the unnamed sources are factual. Sources said in the first week of June FTX paid around $ 200 million to rename US professional esports organization TSM.
What do you think of the UFC partnership with the cryptocurrency exchange Crypto.com? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, UFC, UFC 261: Usman vs. Masvidal, Conor McGregor,
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