FCA warns Premier League clubs over unauthorised crypto sponsors
The UK’s financial regulator has warned Premier League clubs that crypto and trading sponsorships with unauthorised firms could expose them to legal and reputational risk, tightening scrutiny as clubs look for replacement categories.
The Financial Conduct Authority has written to football clubs, mainly in the Premier League, warning that sponsorship deals with unauthorised crypto businesses and trading platforms could create legal liability, money-laundering exposure and reputational damage.The intervention lands as clubs review commercial strategies ahead of the 2026-27 season, with the front-of-shirt betting sponsorship ban pushing rights teams to explore alternative categories that can still pay at scale.The FCA said some unauthorised firms may be using high-profile sponsorships to target fans despite not being allowed to operate in the UK.Lucy Castledine, the FCA’s director of consumer investments, said: “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.”The FCA said it has contacted clubs where it has identified concerns and warned it would take action where needed, while stressing that fans using unregulated firms risk losing all their money and are unlikely to have access to regulatory protections.The regulator’s message also reframes sponsor due diligence as a board-level risk issue, not only a commercial one, since clubs can inherit compliance and proceeds-of-crime questions if a partner is operating unlawfully in the UK.An FCA statement said: “It doesn’t matter how prominent the branding is, which club it sponsors or how professional the app looks. If the sponsoring firm provides financial services and is not on the FCA Firm Checker, it is not regulated, and you will likely have no protection if things go wrong.”The FCA said it expects clubs to conduct proper due diligence before signing and on an ongoing basis, signalling that risk management obligations do not end once a sponsorship goes live.Sports minister Stephanie Peacock said: “Sponsorship income was vital for the industry but fans deserve to know that the companies associated with their clubs are responsible, accountable and safe to use.”The FCA said it is engaging with government and partners, including the Premier League and the Independent Football Regulator, to address the issue across the sport.The next steps are clubs tightening sponsor vetting processes against the FCA Firm Checker, reviewing existing deals for UK-facing promotion risks, and building contract protections that address compliance, geographic targeting and termination triggers.