FTX May Have Donated $100 Million To Liverpool, Manchester United
According to a Bloomberg report, FTX discussed sponsoring English Premier League teams Manchester United and Liverpool early this year.
The conversations highlight the now-bankrupt company’s desire to expand its worldwide footprint and readiness to spend large sums of money to do so.
According to sources with knowledge of the situation who asked anonymously discussed private material, the figures linked with each of the possible multiyear partnerships ranged from close to $100 million to much more than that.
According to one of the sources, Manchester United’s suggested package was more expensive than Liverpool’s.
FTX eventually opted not to support either team. Bankman-Fried voiced confusion about the usefulness of such sponsorships in a Slack chat sent in February and obtained by Bloomberg News.
According to the Slack chat, there was an internal dispute about sponsoring a football team, with Bankman-Fried saying colleagues are probably becoming too passionate and aggressive about this, adding doubt about the perceived return on investment of such a deal.
FTX had spent hundreds of millions of dollars on sports sponsorships prior to its catastrophic downfall. Its emblem featured on Major League Baseball umpire patches, and it was the title sponsor of an esports club called TSM.
Previously, the NBA Warriors announced the suspension of their agreement with FTX.
Even music star Taylor Swift has reportedly turned down a grant of up to $100 million from FTX.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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FTX May Have Donated $100 Million To Liverpool, Manchester United
According to a Bloomberg report, FTX discussed sponsoring English Premier League teams Manchester United and Liverpool early this year.
The conversations highlight the now-bankrupt company’s desire to expand its worldwide footprint and readiness to spend large sums of money to do so.
According to sources with knowledge of the situation who asked anonymously discussed private material, the figures linked with each of the possible multiyear partnerships ranged from close to $100 million to much more than that.
According to one of the sources, Manchester United’s suggested package was more expensive than Liverpool’s.
FTX eventually opted not to support either team. Bankman-Fried voiced confusion about the usefulness of such sponsorships in a Slack chat sent in February and obtained by Bloomberg News.
According to the Slack chat, there was an internal dispute about sponsoring a football team, with Bankman-Fried saying colleagues are probably becoming too passionate and aggressive about this, adding doubt about the perceived return on investment of such a deal.
FTX had spent hundreds of millions of dollars on sports sponsorships prior to its catastrophic downfall. Its emblem featured on Major League Baseball umpire patches, and it was the title sponsor of an esports club called TSM.
Previously, the NBA Warriors announced the suspension of their agreement with FTX.
Even music star Taylor Swift has reportedly turned down a grant of up to $100 million from FTX.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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