Italian Football Club AC Milan Extends BitMEX Partnership

Key Insights

• AC Milan extends its partnership with cryptocurrency exchange BitMEX, naming it as the club’s premium partner and official cryptocurrency trading partner.
• BitMEX’s logo has been displayed on the gameday sleeves of both AC Milan’s men’s and women’s team kits since the original deal in 2021.
• AC Milan released its first NFT collection with BitMEX.

Italian soccer club AC Milan has strengthened its ties with the cryptocurrency world by extending its partnership with BitMEX.

Originally serving as AC Milan’s first-ever jersey sleeve sponsor in 2021, BitMEX now secures the prestigious title of AC Milan’s premium partner, alongside its continued role as the club’s official cryptocurrency trading partner.

AC Milan champions digital innovation with BitMEX partnership

The collaboration between AC Milan and BitMEX has proved fruitful in multiple aspects. The cryptocurrency exchange’s logo has adorned the gameday sleeves of both the AC Milan men’s and women’s team kits since the inception of their partnership.

Moreover, the two entities joined forces to release AC Milan’s first-ever NFT (Non-Fungible Token) collection in collaboration with design studio Fansea.

Fans had the opportunity to own a unique 3D image of Milan’s iconic jersey, with proceeds from the NFT sales contributing to Fondazione Milan, the club’s charitable arm supporting critical causes worldwide.

AC Milan’s Chief Revenue Officer, Casper Stylsvig, expressed enthusiasm for the extended collaboration with BitMEX. He emphasized the partnership’s commitment to advancing the club’s digital transformation, fostering innovation and growth, and supporting Fondazione Milan’s numerous charitable initiatives.

How much is BitMEX’s annual sponsorship of AC Milan?

While the exact financial details of the extended partnership remain undisclosed, previous reports suggested that BitMEX’s annual sponsorship of AC Milan amounted to a substantial €5 million. Cryptocurrency sponsorship has gained traction in the world of Italian soccer, with top Serie A club Juventus forming a partnership with Bitget in 2021.

However, not all crypto-based deals have thrived in the market’s ever-changing landscape.

AS Roma and Inter Milan’s sleeve sponsorships with blockchain company DigitalBits came to an unfortunate halt after the company failed to meet its financial obligations to the clubs, reflecting the inherent risks and uncertainties in the crypto market.

Despite such challenges, the synergy between sports and cryptocurrency continues to evolve.

European soccer clubs, including English giants Manchester City and Spanish titan FC Barcelona, have embraced cryptocurrency sponsorships and ventured into the NFT space.

Read also: 5 Reasons Why NFTs Will Survive No Matter What

Crypto fan token platform Socios has also cultivated partnerships across some of Europe’s most prominent leagues, namely the Premier League, LaLiga, and Serie A.