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The UK’s Financial Conduct Authority wrote to Premier League clubs on June 3 warning that partnerships with unlicensed cryptocurrency firms may constitute criminal offences under UK financial services law and expose clubs to legal and reputational consequences if fans suffer losses.
The warning was issued on June 3 by the UK’s Financial Conduct Authority (FCA), which said it had identified a growing number of partnerships between football clubs and unlicensed cryptocurrency businesses or trading platforms.
According to the regulator, some of these firms may be operating without authorization and could be breaching UK financial services laws.
The FCA’s intervention comes as football clubs increasingly rely on commercial partnerships to generate revenue, making sponsorship agreements with crypto companies more attractive despite growing regulatory scrutiny.
At the center of the regulator’s concerns is the rise of Unauthorized crypto sponsorship deals involving firms that may be offering regulated financial services without the required approvals.
In a letter sent to football clubs, Fiona Mackinnon-Miller, Head of Department for Scams, Promotions, Engagement and Perimeter at the FCA, said regulators had observed a troubling trend.
“We have seen an increase in football club partnerships with unauthorised firms, some of which appear to be operating unlawfully.” — Fiona Mackinnon-Miller, Head of Department – Scams, Promotions, Engagement & Perimeter, Financial Conduct Authority
According to the FCA, some of the firms identified appear to be providing regulated services without authorization while also making unauthorized financial promotions. Both activities are considered criminal offences under UK law.
The regulator warned that involvement in unauthorized crypto sponsorship deals could expose clubs to significant legal, operational, and reputational risks, particularly if fans suffer losses after engaging with unregulated products promoted through club partnerships.
The warning reflects broader efforts by UK authorities to tighten oversight of the crypto sector as digital asset companies increasingly seek mainstream exposure through sports sponsorships.
The FCA emphasized that football supporters may incorrectly assume that companies appearing on team jerseys or stadium advertising boards have been vetted by regulators.
Lucy Castledine, Director of Consumer Investments at the FCA, cautioned clubs against allowing unlicensed firms to leverage fan loyalty.
“Millions of football fans trust their club’s badge.” — Lucy Castledine, Director of Consumer Investments, Financial Conduct Authority
She further warned that clubs:
“should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans.” — Lucy Castledine, Director of Consumer Investments, Financial Conduct Authority
Castledine stressed that sponsorship visibility should not be interpreted as evidence of regulatory approval.
“A logo on a shirt means one thing: that firm paid for it.” — Lucy Castledine, Director of Consumer Investments, Financial Conduct Authority
The FCA encouraged consumers to use its Firm Checker tool before purchasing any financial product from a company associated with a football club.
As concerns around unauthorized crypto sponsorship deals grow, regulators are increasingly focused on protecting consumers who may be unfamiliar with the risks associated with crypto-related investments and trading services.
The FCA’s position has received support from the UK government, with Sports Minister Stephanie Peacock endorsing efforts to ensure football clubs partner only with responsible companies.
Peacock acknowledged the importance of sponsorship revenue to the football ecosystem but argued that fan protection must remain a priority.
“Sponsorship deals play a vital part in sustaining our football pyramid, but fans deserve to know that the companies associated with their clubs are responsible, accountable and safe to use.” — Stephanie Peacock, UK Sports Minister
The scrutiny surrounding Unauthorized Crypto Sponsorship Deals comes as commercial income becomes increasingly important for elite clubs. According to Deloitte, commercial revenue has surpassed broadcasting income for some leading teams. Manchester City generated approximately £353 million ($475 million) from commercial activities in 2025, compared with £287 million ($386 million) from broadcasting rights.
This financial shift has made football clubs attractive marketing partners for cryptocurrency firms seeking access to large and loyal audiences.
To address the issue, the FCA said it is coordinating with the UK government, the Premier League, and the newly established Independent Football Regulator. The collaborative effort aims to prevent unauthorized financial promotions from reaching supporters through professional football channels.
The concern is not new. UK lawmakers previously questioned the role of cryptocurrency products in football, with the House of Commons warning in 2023 about the risks associated with fan tokens and other unregulated digital assets marketed to supporters.
The latest warning also follows a series of FCA enforcement actions targeting unlicensed crypto activity across the country, including recent multi-agency raids on London premises suspected of facilitating illegal peer-to-peer cryptocurrency trading.
As regulators intensify oversight, Unauthorized Crypto Sponsorship Deals are likely to remain under scrutiny, particularly as football clubs balance commercial opportunities against growing expectations around consumer protection and regulatory compliance.
Primary Source: Financial Conduct Authority
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