YEREVAN (CoinChapter.com) — Crypto exchange Gemini and Real Bedford football club, co-owned by Peter McCormack, have signed a five-year sponsorship deal. The deal, announced on Monday, aims to support the club’s success and create new opportunities for locals. It will be paid in Bitcoin.
Winklevoss Capital, owned by Gemini founders Tyler and Cameron Winklevoss, made a $4.5 million investment in the football club in April. The new sponsorship is in addition to the previous investment. The April investment made the Winklevoss twins co-owners of the club alongside McCormack. McCormack bought the club in 2022.
A Gemini spokesperson explained that both the team’s jerseys and the pitch will feature Gemini’s logo as part of the sponsorship deal. Gemini has sponsored the club since 2022. The value of the new deal was not disclosed.
Real Bedford’s integration of Bitcoin into its operations stands out. Players are able to receive payments in cryptocurrency, and fans can buy tickets and merchandise using Bitcoin. This integration has led to a +62% return, strengthening the club’s financial position.
Real Bedford football club holds its treasury in Bitcoin. The five-year sponsorship deal will be paid directly into this Bitcoin treasury. This strategy safeguards the club’s savings and investments against high inflation. The football club plans to use the sponsorship funds to build a new training center and launch a youth football academy for underprivileged children in Bedford, England.
“By integrating Bitcoin into our treasury, we have achieved a +62% return,”
McCormack said. This return has helped protect the club’s cost base against inflation. Bitcoin is a key part of its financial strategy.
“I want to extend a massive thank you to Gemini for renewing their sponsorship agreement with Real Bedford for another five years.
McCormack commented
The sponsorship deal will provide significant support to children in Bedford. For example, the new training center and youth football academy are significant steps forward for the area. They will provide better opportunities for underprivileged children in Bedford, where McCormack lives.
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