Professional esports organization Team SoloMid (TSM) (previously TSM FTX) has suspended its $210 million sponsorship deal with the now-bankrupt FTX crypto exchange “effective immediately” following the cryptocurrency trading platform’s shock collapse last week. The United-States-based esports organization made the announcement in a Nov. 16 tweet to its 2.2 million followers, adding that the decision was made … Read more
Brisbane, Australia CNN — When Australia’s richest woman Gina Rinehart threw a financial lifeline to Netball Australia, she triggered a debate about sponsorships and the role of social and political issues in the sporting sphere. Then she walked away. Rinehart’s bombshell decision to withdraw a 14 million Australian dollar ($8.9 million) sponsorship deal for the … Read more
KFC France distanced itself from comments from a senior executive saying the fast food chain may take legal action over forward Kylian Mbappe’s refusal to take part in some of the French national team’s sponsorship commitments. Alain Beral, vice president of KFC France, told the Sport Business Club website that they were considering legal action, … Read more
The sponsorship of high-profile sports and teams may be key to legitimizing the crypto industry to the general masses, according to Luke Ryan, Head of Content at Australian crypto exchange CoinJar. In May 2021, the exchange became the first crypto company in Australia to sponsor an Australian Football League (AFL) club by partnering with the … Read more
PayPal said Friday that the company will no longer sponsor the Phoenix Suns if owner Robert Sarver remains part of the franchise when his suspension ends. PayPal said its current partnership deal with the Suns ends after the coming 2022-23 season, meaning it will expire during Sarver’s one-year suspension from the NBA. Sarver was suspended … Read more
As a part of a strategic flow so as to attain wider audiences in India nowadays that on Monday, the enterprise’s credit card company introduced its collaboration with the Board of Control for Cricket in India (BCCI), to identify a sponsor for all of the International and home matches on the house grounds which include … Read more
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week DC Attorney General sues Michael Saylor and MicroStrategy for … Read more
Cryptocurrency exchange Crypto.com has reportedly dropped out of a half-billion-dollar sponsorship deal with the Union of European Football Associations Champions League. According to a Wednesday report from SportBusiness, Crypto.com pulled out of a $495-million agreement with the Union of European Football Associations, or UEFA, close to being signed off due to its legal team citing … Read more
Federated Hermes, a champion of environmentally friendly investment strategies, is coming under increasing pressure to explain its sponsorship of a coalition of senior US public officials which opposes action on climate change. Three Danish pension fund clients of Federated Hermes are demanding to know why it agreed to act as a gold sponsor for the … Read more