UFC and Crypto.com sign $ 175 million deal, UFC’s biggest sponsorship – Sportico.com

[ad_1]

The UFC has signed a 10-year, $ 175 million partnership with the cryptocurrency market Crypto.com, according to someone familiar with the terms, the largest sponsorship in the promotion’s history.

Crypto.com will be the UFC’s first-ever global fight kits partner, which means its brand will appear on the uniform of every UFC fighter who enters the Octagon. The partnership begins this weekend, when Conor McGregor, the world’s highest-paid athlete, faces off against Dustin Poirier in Las Vegas.

This is the latest partnership between a sports entity and the rapidly growing world of cryptocurrency investing, which has grown in importance and popularity during the pandemic. The Miami Heat, for example, recently announced a long-term partnership with FTX.us (the crypto exchange also bought the naming rights to the team’s arena). The Montreal Canadiens, NFL quarterback Trevor Lawrence and MLB are others who have signed deals in the industry.

“If we had spoken a few years ago, crypto might not have been on the radar, but it’s kind of a sign of the times,” said UFC general manager Lawrence Epstein, who declined to comment on the terms of the deal. “It’s new, but it’s moving fast and it’s very dynamic.

The UFC was one of the first major American sports to resume hosting of events during the pandemic, and it ended 2020 after hosting 41 of its 42 scheduled events. In March, it signed a five-year, $ 100 million partnership with DraftKings (that deal included a pledge to spend an additional $ 250 million to market DraftKings’ UFC products), and this weekend will be its fourth consecutive event. à la carte in an arena. at 100% of its capacity.

This is essential for Endeavor, the parent company of the UFC, which went public in April. The UFC has returned to being a high cash flow business at a time when the entire sports and entertainment industry remains largely constrained by the COVID-19 pandemic. (Endeavor announced in March that it was raising funds to buy the 49.9% of CFUs it did not already own).

Lawrence said that while there is an overlap between MMA fans and crypto enthusiasts, the UFC was particularly drawn to the overall demo of Crypto.com users.

“In general, this consumer is younger, and based on the data we’ve seen, this consumer also has a fair amount of discretionary income,” he said. “It’s an attractive group to try and get interested in your product. “

As part of the deal, Crypto.com has committed to working with individual UFC athletes as well, Lawrence said. It’s similar to larger promotional offers with Modelo (Amanda Nunes, Brian Ortega) and Guaranteed Rate (Poirier, Rose Namajunas).

In addition to battle kits, Crypto.com will be visible on the clothes fighters wear on their outings and on the clothes of people in their area. It will appear on the Octagonal Canvas at all PPV events and Dana White’s Contender Series, and it will be integrated into UFC shows and social media.

Crypto.com, founded in 2016, currently has over 10 million users worldwide. Its sports portfolio includes the Canadiens, Formula 1 and a partnership with the Italian Serie A.

[ad_2]