By Mukwuzi Joseph
Cryptocurrency derivatives exchange Bitget, based in Singapore, has become the first ever sleeve sponsor of financially challenged Juventus.
No term or value has been given for the sponsorship – Juventus don’t do transparency as their recent involvement in the failed European Super League project showed – but Bitget will be designated as an official Juventus official partner and official cryptocurrency exchange partner.
The deal kicks off tomorrow night against Chelsea in the Champions League.
“It is a pleasure to welcome Bitget as the first Juventus Sleeve Partner and help them increase their awareness across our fanbase worldwide. We will work together globally and support the Partner’s international growth path by leveraging the mutual desire to address an increasingly broad audience.” said Giorgio Ricci, Chief Revenue Officer of Juventus.
Bitget, only established in July 2018, has grown to 1.6 million registered users in 48 countries. It is trumpeted as one of the world’s fastest-growing cryptocurrency derivatives exchanges that support futures trading, spot trading and digital asset purchasing.
James Lee, the Global Strategy Officer of Bitget, said: “Bitget has been looking for outstanding partners from the sports world and game community. Juventus has been fighting hard in the past century, demonstrating the fair, competitive spirit that is expected in sports. Sharing the same spirit and upholding the mission of Better Trading Better Life, Bitget is committed to provide liberal, ultimate and fair trading for cryptocurrency services to users worldwide. The partnership will help Bitget better enhance our international reputation.”
Lee’s comments on “fair, competitive spirit” will not chime with many in Europe who would point to Juve’s actions in the football politics arena as being the exact opposite of equitable financial solidarity and performance-based equal opportunity and meritocracy.
Juventus failed to meet player wages on time over a summer that saw them lose their big draw player Cristiano Ronaldo as the club owners, the Agnelli family, found themselves over-exposed financially, reporting record club losses, and launching a search for new money from the private equity markets. Perhaps players will be able to take comfort in the fact that should it all go horribly wrong again they could get paid in crypto from the Bitget deal.