Crypto exchange OKX has announced a major sponsorship deal with Premier League champions Manchester City, investing over $20 million to become the club's official training kit partner for the 2022-23 season. This partnership expands on their existing collaboration established in March 2022.
Strategic Sports Sponsorship in Crypto Winter
Despite market downturns affecting many cryptocurrency platforms, OKX continues strategic investments in sports partnerships. The Manchester City deal includes:
- Exclusive training kit branding rights
- Crypto education programs for players
- Joint marketing initiatives
👉 Discover how OKX is revolutionizing sports sponsorships
"Forbes" values Manchester City at $4.25 billion, ranking them as the sixth most valuable football club globally. This sponsorship follows Manchester United's partnership with Tezos blockchain earlier in 2022.
OKX's Growing Sports Ecosystem
The exchange maintains an aggressive growth strategy across sports:
- Plans to increase workforce by 30% to 5,000 employees
- Sponsorship of McLaren Racing's F1 and esports teams
- Partnership with Formula 1 driver Daniel Ricciardo
Haider Rafique, OKX Chief Marketing Officer, stated:
"We're intentional about sustainable partnerships that align with our long-term vision, not just bull market spending sprees."
Why Sports Sponsorships Matter for Crypto
Sports collaborations provide:
- Mainstream brand visibility
- Trust-building through established franchises
- Educational opportunities about blockchain technology
👉 Learn about OKX's innovative partnership approach
FAQ: OKX and Manchester City Partnership
Q: How long is the Manchester City sponsorship?
A: The current deal covers the 2022-23 season with potential for extension.
Q: What does the sponsorship include beyond kit branding?
A: It involves crypto education programs for players and joint community initiatives.
Q: How does this compare to Manchester United's Tezos deal?
A: Both are training kit sponsorships, with OKX's reported at $20M+ versus Tezos' undisclosed multi-year agreement.
Q: Is OKX cutting staff like other crypto exchanges?
A: No, OKX plans to grow its team by 30% despite industry layoffs.
Q: What other sports does OKX sponsor?
A: Formula 1 racing through McLaren and driver Daniel Ricciardo.
Q: Why choose football sponsorships during a crypto downturn?
A: OKX views these as long-term brand investments regardless of market cycles.