The UK's Financial Conduct Authority has sent letters to football clubs, including those in the Premier League, warning that their sponsorship deals with unauthorized crypto businesses and trading platforms could breach financial services laws and put fans at risk.
In the letter, the FCA’s Head of Department - Scams, Promotions, Engagement & Perimeter Fiona Mackinnon-Miller warned that the regulator has “seen an increase in football club partnerships with unauthorised firms, some of which appear to be operating unlawfully.”
She added that the identified firms appear to be providing regulated services without authorization, and making unauthorized financial promotions, both of which are criminal offences and expose the soccer clubs to “legal, operational and reputational risk.”
Lucy Castledine, director of consumer investments at the Financial Conduct Authority, said unauthorized financial firms including crypto businesses may be breaking UK laws by providing services without proper licensing.
"Millions of football fans trust their club's badge," Castledine said in a statement, adding that clubs “should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans."
Castledine emphasized that sponsorship visibility doesn't indicate regulatory approval. "A logo on a shirt means one thing: that firm paid for it," she said, adding that fans should use the regulator’s Firm Checker tool before buying any financial product.
Sports Minister Stephanie Peacock backed the FCA's position, stating that, "Sponsorship deals play a vital part in sustaining our football pyramid, but fans deserve to know that the companies associated with their clubs are responsible, accountable and safe to use."
Soccer and crypto sponsorship
The regulatory scrutiny arrives as sponsorship deals become increasingly vital to club finances. Commercial revenue has overtaken broadcasting as the primary income source for top teams, with Manchester City generating $475 million (£353 million) in 2025 compared to $386 million (£287 million) from broadcast rights, according to Deloitte. This revenue shift has made clubs attractive targets for crypto firms seeking mainstream visibility through sports marketing partnerships.
The FCA said it is coordinating with the government, the Premier League, and the new Independent Football Regulator to address unauthorized financial services marketing across professional football. The multi-agency approach reflects growing concern that unlicensed firms are using high-profile club sponsorships to reach mainstream audiences while bypassing regulatory oversight.
UK authorities have previously targeted crypto's involvement in soccer, with the House of Commons warning against clubs using fan tokens in 2023, citing risks from unregulated digital assets marketed to supporters.
The FCA has repeatedly cracked down on unlicensed crypto activities in the UK, including its recent participation in multi-agency raids on London premises suspected of illegal P2P crypto trading.
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