The UK’s financial watchdog has warned Premier League Football clubs that they could be exposed to potential money laundering violations if they continue to partner with unauthorised crypto firms.
The Financial Conduct Authority (FCA) today warned all UK football clubs, while noting that it was mainly writing to clubs in the country’s top division signing sponsorship deals with unregistered financial firms.
It claimed, “These unauthorised firms may be breaching UK financial services laws by providing financial services in the UK without authorisation. Fans using these firms risk losing all their money.”
Among the clubs engaged in sponsorships with unauthorised crypto firms are Manchester City, which is partnered with Socios, OKX, and Axi.
Chelsea, meanwhile, is partnered with crypto exchange BingX while Newcastle United is partnered with VT Markets, a crypto firm currently on the FCA’s warning list.
Read more: CHART: Every crypto sponsor for the 2025/26 Champions League
One firm that is registered with the FCA is Arsenal sponsor Bitpanda.
The FCA didn’t reveal which clubs it wrote to. Regardless, clubs received a letter asking them to carry out five due diligence checks:
- Confirm whether or not the firm is FCA authorised or relies on an exemption.
- Check whether the firm’s services are regulated under UK law.
- Assess the restrictions a firm may have to prevent UK customers from accessing its services.
- Check the FCA’s warning lists and firm checker to see if the firm is authorised or not.
- If necessary, use specialist legal advice to confirm a firm’s regulatory position.
Beyond its criticisms of football clubs, the watchdog warned football fans, “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.”
Read more: Football legends Ronaldinho, Luis Figo sued for Omegapro crypto scam promo
During the 2025/2026 Premier League season, 13 teams repped sponsors from 13 different crypto firms. In the prior season, 14 teams entered into partnerships with 15 different firms.
Protos has reached out to Manchester City and Chelsea for comment and will update this piece should we hear anything back.
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