European club becomes the first to have 100% sponsorship in Bitcoin

Dutch football club PSV Eindhoven became the first in Europe to have all its sponsorship paid for in Bitcoin. The unprecedented initiative is the result of a partnership with the Dutch cryptocurrency company Anycoin Direct.

According to an announcement on Tuesday (17), the collaboration, which aims to raise awareness of cryptocurrencies in Europe, will last for two seasons.

PSV will receive sponsorship in Bitcoin

Frans Janssen, PSV’s commercial director, said he had already created the necessary Bitcoin wallets to facilitate payment and maintain digital currencies.

As the executive stated, the club’s trend towards innovation makes Bitcoin a good option:

“The possibilities and the future that the world of cryptocurrencies offers are very promising. As a club in the heart of the Brainport region, we are always innovating. And cryptoactives fit well into this picture.”

The statement did not reveal the value of the sponsorship. However, according to Dutch newspaper Eindhovens Dagblad, PSV will receive €400,000 in Bitcoin per season. In reais, the value is equivalent to R$2.4 million.

In addition, due to Bitcoin volatility, the business stipulates unspecified guaranteed returns in the event of a price drop.

According to the announcement, although there were several companies interested in sponsoring the team, PSV deliberately chose Anycoin Direct. That’s because the Dutch digital asset company is “reliable and international, but with local roots”.

“With an eye to the future, PSV decided to use the Anycoin Direct service in a unique way. The entire sponsorship amount will be paid in Bitcoin. PSV is the first club in the EU to receive the sponsorship amount in cryptocurrencies”, highlights the statement.

Lennert Vlemmings, chief operating officer (COO) at Anycoin, said the company is very excited to be working with PSV. The executive also pointed out that the payment in Bitcoin marks the next step towards the adoption of cryptocurrency in the European Union.

PSV and NFTs

This is not, however, PSV’s first foray into the cryptoactive market.

After all, in April of this year, the club auctioned off its historic 1988 European Cup final victory over Benfica as a non-fungible token (NFT).

The sale was made on the platform based on Ethereum Momentible.

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