OKX Named As The Manchester City Official Training Kit Partner For 2022-23 Season
- OKX has become the official training kit partner of Manchester City
- The crypto exchange is paying more than $20 million as per a source
Cryptocurrency exchange OKX announced that it had become the official training kit partner for Manchester City Football Club, an English football club based in Bradford, Manchester, that competes in the Premier League.
As per the story disclosed in a press release, OKX confirmed that it had reached an agreement with the current premier league champions, according to which the two entities are to expand the terms of their partnership and explore additional options as well.
“Our partnership with Man City has provided a great platform through which we have the opportunity to educate those curious about crypto and offer those already involved the training they need to participate responsibly.”Said Haider Rafique, Global Chief Marketing Officer at OKX.
Furthermore, the training kit will be worn by Manchester City FC’s men’s, and women’s first teams as per the crypto exchange its announcement. The training kit was debuted by Erling Haaland, Jack Grealish, Joao Cancelo, and John Stones on Sunday during their first pre-season training session. The women’s team will be wearing the kit on their return to training next month.
To celebrate the extension of the partnership, the exchange has hired renowned street artist Akse P19 and Global Street Art Agency to create artworks for the above-mentioned players across four locations in Manchester.
Interestingly, the OKX exchange is also the current presenting partner of Manchester City’s first global Trophy Tour since 2019, after the Club’s fourth title win in five years.
The announcement of this partnership extension comes in a bearish market when Bitcoin (BTC), the world’s biggest cryptocurrency, has dropped below the $21,000 price level and remains stuck in a downtrend.
OKX to pay millions?
While the financial parameters of the deal were not disclosed via the press release, it seems that the crypto exchange is set to pay millions for the extension of the partnership. Forbes claims that a source with knowledge of the matter said that OKX is paying more than $20 million to the Football Club to become the official kit partner for the 2022-23 season.
According to Forbes, Manchester United is the sixth most valuable football club in the world, with a net worth of $4.25 billion.