Crypto.com has struck an exclusive, four-year deal to provide sponsorship as a founding partner of Angel City Football Club (ACFC), a Los Angeles-based women’s soccer team.
The move marks the first direct sponsorship of a professional women’s sports team by a major cryptocurrency platform.
According to a press release, the endeavor aims to increase access and awareness of digital assets, blockchain technology, and Web3 among soccer fans in Los Angeles and ACFC players. The collaboration will also focus on financial equity, community engagement, and social impact initiatives.
Sports Business Journal reported, citing sources, that the deal was in “the low seven figures per annum.”
Kris Marszalek, Co-Founder of Crypto.com, commented: “We are a community dedicated to building the future of the internet: Web3. Powered by cryptocurrency, Web3 will be more fair and equitable, owned by the builders, creators, and users. We are thrilled to be joining ACFC as a founding partner, deepening our relationship with the City of Los Angeles while supporting a team that shares our values and is equally committed to helping people achieve financial independence and self-determination.”
The deal follows the announcement of a 20-year agreement with AEG to rename Staples Center in Los Angeles to Crypto.com Arena. A source familiar with the matter told The Block in November that the deal cost the exchange $700 million, making it one of the largest sponsorship deals in sports history.