Football Clubs Warned About Risky Crypto Sponsors

The Financial Conduct Authority (FCA) has written to several football clubs, including those in the Premier League, to caution them about deals with crypto companies that may not be licensed. The FCA’s fraud unit head, Fiona Mackinnon‑Miller, said it has noticed more clubs signing up with firms that appear to be operating illegally. These partners may offer financial services without the proper approval, and they are also promoting their products in ways that break the law. This puts clubs at risk of legal trouble, operational problems and damage to their reputation. Lucy Castledine, a senior FCA officer, warned that crypto firms can break UK rules by giving services without the right license. She said fans trust their club’s brand, and clubs should not let shady firms take advantage of that loyalty by putting questionable products in front of millions of supporters. Castledine reminded people that a logo on a shirt only shows the firm paid for it; it does not mean the company is authorised. She urged fans to check the regulator’s Firm Checker tool before buying any financial product from a sponsor.Sports Minister Stephanie Peacock agreed with the FCA, saying that while sponsorship is crucial for football’s financial health, fans deserve to know that the companies linked to their clubs are responsible and safe. The growing importance of commercial revenue in football has made clubs attractive targets for crypto firms seeking visibility through high‑profile partnerships. For example, Manchester City earned more from sponsorships than from broadcast rights in 2025, according to Deloitte. This shift has raised concerns that unlicensed firms use club sponsorships to reach large audiences while avoiding regulatory oversight. The FCA is working with the government, the Premier League and a new independent football regulator to tackle this issue. Earlier in 2023, UK lawmakers warned clubs against using fan tokens because of the risks posed by unregulated digital assets marketed to supporters.