UK watchdog warns football clubs against unauthorized financial firm sponsorships
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The UK's Financial Conduct Authority (FCA) has cautioned top football clubs against signing sponsorship deals with unauthorized international financial firms, particularly crypto and trading platforms, warning that these firms may be targeting unsuspecting fans and breaching UK laws.
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The U.K.’s City watchdog has warned top British football clubs not to sign sponsorship deals with unauthorized international financial firms, as they may be targeting “unwitting football fans.”
The Financial Conduct Authority issued the caution in a letter to teams ahead of England, Scotland and other international teams heading to the U.S., Mexico, and Canada for the 2026 World Cup, which will kick off on June 11.
The regulator warned clubs, mainly those in the Premier League, about their relationships with financial businesses — namely crypto firms and trading platforms — as some may be breaching U.K. laws by providing financial services in Britain without authorization, putting fans at risk of losing all their money.
“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,” said Lucy Castledine, director of consumer investments at the FCA.
The FCA said it expects every football club to “conduct proper due diligence” on financial services sponsors before signing any deal, and is engaging with the government, Premier League, and the Independent Football Regulator to tackle the issue.
