FCA warns 14 Premier League clubs over unauthorized crypto sponsors

The UK Financial Conduct Authority has put Premier League clubs on notice that sponsorship deals with unauthorized crypto firms expose both fans and teams to legal and financial risk.

The UK Financial Conduct Authority warned Premier League clubs that sponsorship deals with unauthorized crypto firms may breach financial services law, exposing fans to total loss and clubs to legal liability.

"Millions of football fans trust their club's badge. Clubs should not let unauthorized financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans," Lucy Castledine, director of consumer investments at the FCA, said.

Crypto firms spent a record £130 million ($170 million) on Premier League sponsorships last season, with 14 of 20 clubs carrying crypto or blockchain partners, up from eight a year earlier, according to Bloomberg. The FCA said it has written directly to clubs and identified specific concerns, warning that unauthorized firms may be providing regulated services without licensing and making unlawful financial promotions — both criminal offenses. Fans using unregulated firms risk losing all their money and lack access to the Financial Ombudsman Service or compensation schemes, the regulator said.

The warning arrives eight days before the 2026 FIFA World Cup, a period of peak global football visibility, and follows the FCA bringing crypto marketing under its financial promotions regime in October 2023. The regulator said it is coordinating with the government, the Premier League, and the new Independent Football Regulator to address unauthorized financial services marketing across professional football.

Past failures put clubs on notice

FC Barcelona faced scrutiny in November 2025 after a sponsorship with Zero-Knowledge Proof, a Samoa-registered firm, led to an unconnected token sale. The club issued a statement insisting it had "no connection whatsoever" to the token. In a separate case, FTX's collapse in late 2022 forced three sports partners — the Miami Heat's arena, esports organization TSM, and Mercedes-AMG Petronas in Formula 1 — to seek court relief to exit contracts worth hundreds of millions of dollars.

Which clubs face the most exposure

LAK3 Company, which sponsored Wolverhampton Wanderers in the 2024-25 season, appears on the FCA's Warning List of unauthorized firms. BingX, a Chelsea partner, and OKX, a Manchester City sponsor, do not appear on the FCA register of authorized firms, the Financial Times reported. Manchester City generated €408 million ($474 million) from commercial and sponsorship deals in 2025, surpassing its broadcast income of €332 million, according to Deloitte. Sports Minister Stephanie Peacock said sponsorship income matters, but fans deserve partners that are "responsible, accountable and safe to use."

The FCA has urged supporters to check any financial services firm on its online Firm Checker tool before using their products. The regulator said it will take enforcement action where concerns have already been identified.

This article is for informational purposes only and does not constitute investment advice.