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- FTX is first cryptocurrency exchange to sponsor a professional sports league
- Five-year deal includes worldwide marketing rights and exposure across MLB’s broadcast, digital and social platforms
- FTX also recently secured naming rights to Team SoloMid and home of the Miami Heat
FTX has become the first cryptocurrency exchange to sponsor a professional sports league by agreeing a reported five-year partnership with Major League Baseball (MLB).
The long-term deal, which establishes FTX as the official cryptocurrency exchange brand of the North American baseball league, will see the company’s logo appear on umpire uniforms during all matches, starting from this year’s MLB All-Star Game.
Under the agreement, FTX has gained worldwide marketing rights associated with MLB marks, logos and special events. The brand will also be promoted during nationally televised games, as well as on MLB.com, MLB Network, MLB.TV and the league’s social media platforms.
In addition, FTX.US has secured the rights to use highlights of players in content creation through an agreement with MLB Players Inc., the subsidiary of the MLB Players Assocation (MLBPA) that manages all commercial activities for the organisation.
Noah Garden, MLB’s chief revenue officer, said: “This is an incredibly exciting announcement for everyone in Major League Baseball as we partner with a global leader in the early stages of their unbelievable growth.
“FTX quickly cultivated itself into a worldwide leader in the ever-evolving cryptocurrency industry and continues to build on its already impressive reputation. Our fans have been early adopters in using new technologies to engage with our game.”
The deal continues a flurry of recent activity for FTX, which earlier this month struck a multi-year naming rights deal with esports organisation Team SoloMid worth US$210 million.
Prior to that, the company agreed a 19-year, US$135 million deal with Miami-Dade County to secure the naming rights to the home of the National Basketball Association’s (NBA) Miami Heat.