NAIROBI (CoinChapter.com) — Gemini has signed a five-year sponsorship deal with Real Bedford Football Club, co-owned by Peter McCormack. The agreement, paid entirely in Bitcoin, aims to bolster the club’s financial stability and community initiatives.
The deal ensures that Gemini’s logo will feature prominently on team jerseys and around the stadium, significantly
The sponsorship builds upon a $4.5 million Bitcoin investment made by Winklevoss Capital in April 2024. This investment made Tyler and Cameron Winklevoss, founders of Gemini, co-owners of the club alongside McCormack.
Marshall Beard, COO of Gemini, expressed confidence in the partnership, stating that the five-year agreement reflects their belief in Real Bedford’s potential to challenge established competitors under Peter’s leadership and supported by Bitcoin.
Real Bedford’s recent successes, including two consecutive league promotions and cup victories, highlight the impact of Gemeni’s investment.
Real Bedford’s Bitcoin treasury plays a crucial role in the club’s financial strategy. Peter McCormack, the club’s owner, reported that integrating Bitcoin into the club’s treasury led to a 62% return, strengthening the club’s financial position and protecting it against recent inflation increases.
McCormack sees Bitcoin as a defense against what he considers irresponsible government economic policies. Moreover, he believes that while the government hinders the productive class, Bitcoin offers a way for individuals and businesses to secure their financial future.
The five-year sponsorship deal represents one of the longest multi-year shirt sponsor agreements outside the UK’s professional leagues. It will directly fund the club’s Bitcoin treasury, supporting development plans like a new training center.
Additionally, the funds will aid in establishing a youth football academy for underprivileged children in Bedford.
The integration of cryptocurrency in football is not limited to Real Bedford. In recent years, several clubs have partnered with crypto firms to navigate financial challenges. Spanish striker David Barral made headlines in 2023 when his transfer from Real Madrid to DUX International de Madrid was paid for with Bitcoin.
Crawley Town FC has utilized non-fungible tokens (NFTs) and digital collectibles to generate funds and maintain fan engagement. In May, Portuguese footballer Cristiano Ronaldo partnered with Binance to launch a limited edition NFTs, highlighting another crypto-sports crossover.
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