Premier League players could be paid in crypto as blockchain evolves
Premier League football players could have their salaries paid for in crypto, a new report into the future of the blockchain suggests.
After over £400m was spent in the 2024-25 sporting season on deals and sponsorships, it has been suggested that digital currencies could replace traditional payments for player transfers and salaries.
In 2021 Spanish footballer David Barral became the first player to be transferred from one club to another using cryptocurrency, with Sao Paulo paying $6m for Giuliano Galoppo through the blockchain the following year.
And a new report by B2BinPay suggests this could be the future.
“One of the most promising trends is the growing use of cryptocurrency to handle football transfers,” the Crypto becomes an integral part of sports report states. “More clubs and players are starting to settle transfer fees directly using digital currencies like Bitcoin or stablecoins.
“This method makes payments faster and removes borders that traditional transfers often create. As more people trust the system and the technology improves, paying player salaries and bonuses with crypto could soon become normal practice.”
Crypto on the rise… again
A recent SportQuake report stated that sponsorship of sports organisations by crypto and blockchain brands was up 20 per cent to over £400m in the most recent sporting season.
“Nearly two thirds – 20 out of 34 – of new crypto sponsorship deals have come in football while Formula 1 and its teams’ annual income from the exchanges amounts to $174m,” it said.
The likes of Coinbase, OKX and Gate.io have been major players in the world of sports sponsorship recently, while Crypto.com has major deals in football, Formula 1 and stadium naming rights Stateside.
“The bulls are back,” SportQuake chief Matt House said. “The crypto winter of 2022/23 seems a long time ago as crypto sports sponsorship spend bounces back towards all-time highs.
“Looking ahead, key market signals suggest that crypto exchanges are likely to become major front-of-shirt buyers, as the Premier League’s ban on betting companies purchasing this inventory takes effect in the 2026/27 season.”