Cryptocurrency exchange Crypto.com was in negotiations to become the lead sponsor of the UEFA Champions League football when the deal fell through earlier this summer, according to Sport Business.
Crypto.com was in line to pay $99 million a year over five years. The sponsorship was intended to replace Russia’s Gazprom, whose UEFA deal was terminated due to Russia’s invasion of Ukraine.
The cryptocurrency exchange has been a prolific sports sponsor. It grabbed headlines when it committed to a $700 million deal over 20 years to sponsor the Los Angeles stadium formerly known as Staples Corner, which is now the Crypto.com Arena.
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