FCA warns Premier League clubs over unauthorized crypto…

The UK's Financial Conduct Authority has written directly to Premier League clubs warning them that sponsorship deals with unauthorized crypto firms may breach financial promotion rules — and could expose clubs to legal liability, money laundering risk, and reputational damage. The FCA's director of consumer investments, Lucy Castledine, put it plainly: "Millions of football fans trust their club's badge. Clubs should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans."

Why it matters

The FCA's intervention targets a growing grey zone in sports marketing. Companies not on the FCA's crypto register can only advertise in the UK if their promotional material is approved by an FCA-authorized firm. High-visibility shirt sleeve deals — seen by millions of fans every matchday — almost certainly constitute financial promotions under that framework. OKX, whose logo appears on Manchester City's sleeves, is not on the FCA register. Kraken, which sponsors Tottenham Hotspur, is registered through parent company Payward. That distinction matters enormously: one club faces regulatory exposure, the other does not.

Market impact

The FCA's direct outreach to clubs signals this is moving beyond guidance into active enforcement territory. Any Premier League club still holding an unauthorized crypto sponsorship now faces a binary choice: get the promotions properly approved or terminate the deal. For OKX specifically, the Manchester City arrangement is under direct scrutiny. Broader crypto sponsorship pipelines into UK football — and potentially other UK sports — are now materially at risk.