The United Kingdom has issued a warning to leading football clubs over their growing involvement in sponsorship and commercial deals with foreign cryptocurrency providers.
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 said it is concerned about clubs, particularly in the Premier League, entering partnerships with financial businesses including cryptocurrency companies and online trading platforms.
It warned that some of these firms may be operating in the United Kingdom without proper authorisation, which could leave fans exposed to serious financial harm and the risk of losing their money.
The caution forms part of wider oversight involving the Financial Conduct Authority, the Premier League, the United Kingdom government and the proposed Independent Football Regulator. Officials are working together to strengthen checks on commercial partnerships in football and reduce the risk of unauthorised financial promotions reaching supporters.
Lucy Castledine, director of consumer investments at the Financial Conduct Authority, said millions of football fans place deep trust in their clubs and that this trust must not be exploited.
Castledine 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.”
She said clubs should not allow unauthorised financial firms to take advantage of that loyalty by promoting products that could put supporters at risk.
The Financial Conduct Authority said it expects every football club to carry out thorough due diligence before agreeing any sponsorship or commercial deal with financial services companies.
It added that it is actively engaging with football authorities and government bodies to address the issue and protect consumers.
