The newly-promoted soccer club Watford will use Dogecoin on kit sleeves in the 2021-22 English Premier League season.
Watford FC To Wear Dogecoin On Sleeves In Sponsorship Deal With Stake.com
Based on a report from The Athletic, Watford FC’s sponsorship deal with Stake.com will have the club using Dogecoin on package sleeves.
The site likewise reports that the cooperation will earn the soccer club around ₤ 700,000 (in the whereabouts of $970k).
The partnership in between Watford and Stake.com was initially announced last month. The press release read:
The multi-year arrangement collaborates among the fastest growing cryptocurrency brand names with a Premier League opposition aiming to make their mark following promo from the Championship last season.
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The website also stated “To honor the start of the partnership, Stake will be running crypto-themed initiatives, including a 10 million Dogecoin free gift on their worldwide platform.”
Earlier, Watford FC played in the English Premier League from 2015 to 2020, reaching the FA Cup final in 2019. Nevertheless, the club faced relegation in 2020 and needed to play in the Championship. However, after simply one season in the 2nd department, the club is back in the top-flight this year.
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Stake.com is a popular sports crypto gambling establishment and wagering platform that accounts for over 5% of Bitcoin’s total deals. With the launch of the UK site, the company thinks the handle the soccer club will help raise awareness in the nation.
The club’s previous sleeve partnership with Bitcoin fetched it around a million pounds. If the Dogecoin deal gains global traction, the club can overall earn more than in the past.
Crypto sponsorship deals in sports isn’t anything brand-new, simply last month UFC announced a $175 million deal with Crypto.com.
In the previously mentioned website news release, Stake.co.uk CEO Mladen Vuckovic says:
We might not be more enjoyed partner with a club that has such tremendous history yet still a real ingenious spirit. We’re devoted to becoming a key part of the Watford family and have a number of exciting efforts planned for fans over the coming months!
At the time of writing, Dogecoin’s price floats around $0.28, up 8% in the last 7 days. Over the past month, the crypto has actually collected 42% in gains.
The below chart reveals the patterns in DOGE’s worth over the past three months:
DOGE slowly zig-zags its way upwards|Source: DOGEUSD on TradingView
While this isn’t the very first time Dogecoin has included in a sports-related setting, this deal is definitely the most prominent. As Watford FC plays in the most popular league worldwide, this sponsorship deal might be big for DOGE.
Featured image from Unsplash.com, chart from TradingView.com