European Football Clubs Cancel Deal With Bitci.com Crypto Group

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Sporting Lisbon's forward Pablo Sarabia celebrates after scoring a goal during a match at the Jose Alvalade stadium in Lisbon on Feb. 6.

Photographer: Patricia de Melo Moreira/AFP/Getty Images

Two European football clubs have terminated their commercial relationships with Bitci.com, the Turkish-based crypto group, according to people with direct knowledge of the decisions.

The move by Sporting Lisbon, the club that unearthed global superstar Cristiano Ronaldo, and Italy’s Spezia, follows McLaren Racingrecent decision to end its sponsor deal with Bitci.

Bitci is a Turkish cryptocurrency group with its own blockchain network. According to its website it runs fan token schemes for a number of sports teams, including RCD Espanyol, RC Celta de Vigo, Moto GP, and the Brazil national football team. 

In the case of Sporting Lisbon, the contract was terminated because Bitci failed to make payments, a person familiar with the matter said.

Sports teams and leagues around the world have been rushing into the launch of crypto sponsorships and digital fan tokens, which promise fans the chance to apply for benefits or influence the colors a team wears.

Sporting Lisbon, which had announced its partnership with Bitci in September, said it has made a “strategic disalignment,” according to a spokesman. It has since removed all references to the Bitci and its products from the team’s website.

Spezia, which currently plays in Italy’s Serie A, has also ended its sponsor deal, a spokesperson confirmed. Bitci began its partnership with Spezia last September.

Bitci did not respond to a request for comment. 

A planned Bitci.com fan token for Premier League football team Wolverhampton Wanderers has not yet been launched despite a sponsorship agreement in June. Wolves is still carrying out due diligence, people familiar with the situation said last week.

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