The UK Financial Conduct Authority has warned football clubs that sponsorship deals with unauthorised crypto firms could expose fans to financial harm while creating legal, money laundering and reputational risks for clubs. According to the FCA, it has written to Premier League clubs and other football organizations after identifying concerns that some crypto companies and trading platforms may be using sponsorship agreements to promote financial products in Britain without the required authorization. The regulator said unauthorised firms could be breaching the UK's financial promotion rules by gaining visibility through partnerships with high-profile football teams and using those relationships to reach large audiences of supporters. Speaking on the issue, Lucy Castledine, director of consumer investments at the FCA, said millions of fans place trust in their clubs and should not be exposed to potentially unsafe financial products through sponsorship arrangements. In a Wednesday press release shared with The Block, the FCA instructed clubs to ensure they understand the source of sponsorship funds and assess financial crime and reputational risks. The FCA clarified that companies not listed on the FCA's crypto register are allowed to advertise in the UK only if their marketing material is signed off by a company authorized to approve it. The warning arrives just weeks before the 2026 World Cup, a window of peak global football attention that magnifies sponsor visibility and raises the stakes for clubs whose partners reach millions of international fans.
Crypto firms spent a record £130 million ($170 million) on Premier League sponsorships last season, according to Bloomberg. The influx has been dramatic, with fourteen of 20 clubs carrying crypto or blockchain partners, up from eight a year earlier. Manchester City led commercial earners, generating €408 million ($474M) in 2025, ahead of its broadcast income. The research shows that commercial and sponsorship income has overtaken broadcasting revenue as the largest source of earnings for many clubs. The FCA noted that several unauthorized crypto and trading platforms have targeted "unwitting football fans" through sponsorships with sports clubs. Kraken is on the FCA's registry of authorized crypto firms (through parent company Payward), while OKX is not.
The FCA has taken specific enforcement action against clubs where concerns have been identified, with the regulator stating "Where the FCA has already identified concerns, it has spoken directly to the club. Where action is needed, the FCA will take it". In the letter to clubs, Fiona Mackinnon-Miller, head of the FCA department overseeing scams, promotions, and consumer investments, instructed clubs to ensure they understand the source of sponsorship funds and assess whether such arrangements could expose them to financial crime risks or reputational damage. The regulator warned that funds received from unauthorized firms could potentially constitute criminal property under the UK's Proceeds of Crime Act. The FCA has engaged with the government and partners, including the Premier League and the Independent Football Regulator, to address the issue across the sport. Neither Manchester City nor OKX had responded to a request for comment by publication time.
Regulators are increasingly targeting how crypto products are marketed, not just the firms behind them. The UK's Financial Conduct Authority is widening its focus beyond crypto firms and toward the organizations helping promote them. With 13 Premier League clubs already linked to crypto-related sponsors, regulators appear increasingly focused on distribution channels rather than issuers alone. Football clubs offer visibility, trust, and access to large audiences, making them an increasingly important part of the enforcement discussion. The implication is that regulatory responsibility is moving further up the marketing chain, with clubs facing greater scrutiny over sponsor authorization, due diligence, and financial-promotion compliance before partnerships are approved. Recent industry reports suggest some blockchain infrastructure providers could face materially higher operating costs under proposed UK rules, with regulation increasingly influencing where companies choose to build and operate.
The UK's latest crypto marketing crackdown is part of a global trend of tightening oversight of crypto promotions. Similar restrictions are appearing across major financial jurisdictions, with the European Union's MiCA framework tightening marketing requirements. Singapore, Hong Kong, and the UAE increasingly tie promotional activity to licensing and compliance standards. As these rules expand, customer acquisition is becoming more regulated, with compliance becoming a core business function rather than an afterthought. The implications extend beyond advertising, with sponsorships, influencer campaigns, and distribution channels now facing greater scrutiny. If this trend continues, enforcement could shape competitive dynamics just as much as technology or product innovation.
