Crypto Exchange OKX Becomes Training Kit Sponsor of Manchester City

Crypto exchange, OKX has extended its partnership with Manchester City Football Club, now becoming its official training kit sponsor for the 2022-23 season.

Announced on Monday, the agreement between the two will put the branding of the crypto exchange on the training kits of both men and women teams of Manchester City. Further, players will take part in OKX’s crypto education initiatives.

“The real grit and perseverance [are] built on the training ground. This is the way we want to nurture new users on our platform,” said Haider Rafique, OKX’s Global Chief Marketing Officer.

“Our partnership with Man City has provided a great platform through which we have the opportunity to educate those curious about crypto and offer those already involved the training they need to participate responsibly.”

Though none of the two parties officially revealed the deal's financial terms, Forbes reported that the extended sponsorship agreement is costing the crypto exchange more than $20 million this gaming season.

OKX first entered into a sponsorship deal with English football in March. Then they inked a multi-year deal, giving OKX the status of Manchester City’s official cryptocurrency partner.

“We are pleased to expand our relationship with OKX today,” said City Football Group’s Chief Operating Officer, Roel de Vries. “Since the initial partnership began in March 2022, we have worked together to ‘supercharge the fan experience’ through a number of exciting content activations ahead of high-profile fixtures during the culmination of the 2021/22 season, and we look forward to continuing to develop these opportunities over the coming year.”

The sponsorship came when the cryptocurrency market was witnessing a plunge, dragging Bitcoin’s price to $20,000. However, deep-pocket crypto companies continue to promote their brands with sports sponsorships.

Similar to OKX’s deal, the blockchain company, Tezos is sponsoring the training kits of Manchester United, another popular English football club and the local rivals of Manchester City.