Crypto companies with Premier League sponsorship deals are facing increased scrutiny after the Financial Conduct Authority warned clubs about partnering with firms that are not authorised to operate in the UK.
The financial watchdog has told English top-flight clubs they could face enforcement action if they accept sponsorship money from crypto and trading businesses that are not allowed to offer services in Britain.
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The intervention places fresh pressure on crypto groups that have used football sponsorships to raise their profile among large fan audiences.
In its communication to clubs, the FCA said it had seen “an increase in football club partnerships with unauthorised firms, some of which appear to be operating unlawfully”.
The regulator said these arrangements could give such firms added credibility while creating risks for UK consumers.
Lucy Castledine, director of consumer investments at the FCA, said: “Millions of football fans trust their club’s badge. Clubs should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans.
“A logo on a shirt means one thing: that firm paid for it. Fans should always check the firm using our Firm Checker tool before buying a financial product and help us show the red card to those that would risk your money.”
The FCA has not named the specific sponsorship agreements it is reviewing.
However, several existing club partnerships involve firms that are not on the FCA register of authorised businesses.
In April, Chelsea extended its sponsorship agreement with crypto exchange BingX. Manchester City has a shirt-sleeve sponsorship with crypto exchange OKX. Neither company is listed on the FCA register of authorised firms.
Newcastle United is also partnered with VT Markets, a trading company that offers foreign exchange and commodities trading. VT Markets has been on the FCA warning list of unauthorised firms since 2023.
Wolverhampton Wanderers had crypto group LAK3 Company as a sponsor in the 2024-25 season. LAK3 is also on the FCA warning list. Wolves were relegated from the Premier League at the end of the 2025-26 season.
The FCA said it has written directly to clubs where it has particular concerns. It has also contacted all Premier League clubs and the league itself about crypto sponsorship issues.
The regulator’s warning extended beyond clubs to the source of sponsorship money.
The FCA also said clubs have “responsibilities to fans” and warned that sponsorship agreements with unauthorised financial services firms “potentially expose clubs to legal liability, money laundering risks and serious reputational damage”.
It added: “Where action is needed, the FCA will take it.”
