• Loading stock data...
Sunday, July 14, 2024

NFL Opens Door to Blockchain Deals

  • The NFL is allowing teams to pursue sponsorships with blockchain companies.
  • The league is still retaining restrictions on deals.
NFL-Blockchain
Kirby Lee-USA TODAY Sports/Design: Alex Brooks

Crypto companies have voraciously sought sports sponsorships — and now they can do so with the most popular league in the U.S.

The NFL adjusted its policy toward blockchain-based companies on Tuesday, permitting teams to seek sponsorships in that realm.

The move allows for “promotional relationships without undertaking excessive regulator or brand risk.”

  • The league initially blocked all team sponsorships with crypto and blockchain-related companies.
  • Teams are still barred from advertising blockchain companies on stadium signs and may not promote cryptocurrency or blockchain fan tokens.
  • Team deals will be no longer than three years, for now.
  • Teams were also granted certain permissions to pursue NFT partnerships. In September, the league struck a deal with NBA Top Shot producer Dapper Labs on an NFT project.

Teams may see the Golden State Warriors’ $10 million deal with crypto trading platform FTX as a precedent when negotiating. 

The league will discuss the changes with owners at the league’s annual meetings, which commence on Saturday.

Official Crypto Sponsor

The NFL itself could open the bidding for its official blockchain sponsor. Coinbase became the NBA’s exclusive cryptocurrency platform sponsor in a four-year, $192 million pact in October. 

The Los Angeles Lakers renamed their home Crypto.com Arena in November in a $700 million deal.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
The Mississippi Department of Human Services on Monday sued retired NFL quarterback Brett Favre along with several other people and businesses to try to recover millions of misspent welfare dollars that were intended to help some of the poorest people in the U.S.

Judge in Mississippi Welfare Case Boots Brett Favre’s Lead Lawyer

The judge wrote he had a ‘pattern and practice of delicate deception.’
Oct 5, 2023; Landover, Maryland, USA; Washington Commanders owner Josh Harris with fans before the game against the Chicago Bears at FedExField.

Parts of the Commanders’ Past Finding Their Way Into Harris Era

The team is developing plans to honor former logo designer next season.
podcast thumbnail mobile
Front Office Sports Today

Warner Bros. Discovery Faces Final Decision on NBA Rights

0:00

Featured Today

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.
Oct 27, 2023; Sacramento, California, USA; A general of the Sacramento Kings logo on the court before the game against the Golden State Warriors at Golden 1 Center.
July 6, 2024

How Sports Went From Private Equity Punchline to Coveted Asset Class

Once an industry punchline, sports are now a coveted asset class.
July 2, 2024

Willie Mays’s Humility Was Key to His Genius

Mays took heat from all sides, and handled it his own way.

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.
June 11, 2024

Breakthrough? Tiger Says PGA Tour and LIV Golf Are Eyeing ‘End Game’

Woods called a recent meeting ‘productive.’