Following Cinch’s withdrawal from its sponsorship obligations, Tottenham Hotspur has announced their new shirt sleeve sponsor for the 2024–2025 campaign.
The official sleeve partner of Tottenham Hotspur’s women’s and men’s teams starting with the 2024–2025 season will be Kraken, the club has confirmed. Spurs has become the first official Web3 and cryptocurrency partner of Kraken, one of the oldest cryptocurrency platforms in the world, which was launched in 2011.
The agreement between Tottenham and their new worldwide brand partner is for a three-year period, as far as football.london is aware. According to an article published on football.london last week, the club was well into talks to secure a massive new matchday jersey sleeve sponsorship.
The online auto retailer is said to have exercised an early exit option as it reduces its sponsorship commitments, following through on its Scottish Premiership Football League deal. Tottenham and Cinch had a five-year shirt-sleeve partnership signed in 2021.
Tottenham has benefited from the early exit, with football.london reporting last Tuesday that the club took advantage of rising sponsorship valuations and was in advanced talks with a new partner to agree a matchday shirt sleeve deal that will dwarf the £10 million per year they were receiving from the Cinch deal. Spurs agreed to terms with Kraken to become their new sponsor ahead of the next 2024/25 season, and earlier this month announced a new three-year training wear sponsorship contract with BetMGM worth a reputed £10 million per year.
Tottenham Hotspur’s chief revenue officer, Ryan Norys, said of the Kraken deal: “As a club that strives for innovation in everything we do, we are thrilled to partner with yet another forward-thinking brand in Kraken – a true leader in its field, recognized throughout the Web3 industry for its emphasis on education around the crypto ecosystem. We look forward to providing our supporters a variety of great events and experiences throughout the collaboration.”
Kraken’s chief marketing officer, Mayur Gupta, added: “Spurs fans and the crypto community both have an undying and unwavering commitment to what they believe in. Kraken believes that crypto, like football, should be accessible to everyone. We’re excited to collaborate with Tottenham Hotspur to deliver this accessible financial technology to a wider range of football fans.”
Tottenham has also announced that Kraken will be the official crypto and Web3 partner of F1 DRIVE – London, which is located below the south stand of the club’s Tottenham Hotspur Stadium. The club has also announced on their official website that all Tottenham shirts for the 2024/25 season would be sold without the Kraken sleeve partner badge.
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