Mixed material art organization, Ultimate Fighting Championship (UFC) has agreed on a long-term sponsorship deal with the cryptocurrency platform Crypto.com.
UFC announced that it agreed to a ‘fight kit’ partnership with crypto.com, one of the world’s largest crypto trading platforms.
According to CNBC the deal terms were not disclosed publicly but the sponsorship deal is worth $175 million and will last over 10 years.
The deal will give Crypto.com brand presence on fight kit items utilized throughout UFC. It includes apparel such as shorts, top bras, and walk-out hoodies. In short, anything worn by the athletes in the competition, clothing worn by the staff in the UFC. Additionally, Crypto.com will also own the rights to UFC’s newly generated “Cryptocurrency Platform Partner” sponsorship category.
Crypto.com co-founder and CEO Kris Marszalek called the deal with UFC a “historic moment”. He added that it would help the sport “accelerate the world’s transition to cryptocurrency.”
Marszalek added, “This is just the beginning of a long relationship with UFC, and we’re looking forward to what we will build together.”
Endeavor, a well-known Hollywood talent agency, purchased the remaining stake in UFC in April. “We’re in unbelievable shape in that business (UFC) right now,” Endeavour CEO Ari Emanuel.
UFC will host its “UFC 264” main event on Saturday, featuring popular fighter Conor McGregor against Dustin Poirier for the third time.
UFC’s recent activities has shown its interest in the crypto industry. It’s recent partnership with Socios.com for the UFC fan tokens is one such example for it. Socios.com announced the launch of the UFC token on 30th June. Recently, Crypto.com also announced its plan to become a global partner of the F1 Sprint series.
