Manchester City announces a deal with a cryptocurrency platform

Manchester City announced today, Friday, the conclusion of a multi-year deal with the OKX platform, which specializes in cryptocurrency trading.
Forbes magazine said that the deal concluded between the club and the cryptocurrency company is the first deal through which OKS, the owner of a cryptocurrency exchange, entered the sports world.
The deal is set to benefit Manchester City’s men’s and women’s teams, as well as the presence of the OKS platform in all Manchester City stadiums, the 55,000-seat Etihad Stadium and the 7,000-capacity Academy stadium, as well as cooperation on future projects.
It is noteworthy that the financial terms of the deal were not disclosed, but a source said that the value of the deal amounts to millions of dollars annually, and this deal is the latest in a series of deals that have introduced digital currencies into the world of sports. Last February, Manchester United agreed to a sponsorship deal. With blockchain company Tezos worth $27 million.
Last year, FTX agreed to a 19-year, $135 million deal with the Miami Heat, among other deals.
OKS is the second largest cryptocurrency exchange by spot trading volume, with more than $20 billion traded in the last 24 hours, according to CoinGecko.com. The platform was founded in 2017 by entrepreneur Star Shaw, who was declared innocent in 2020 after an investigation into the merger of shares related to his company OK Group to become OKS.
OKS is headquartered in the Republic of Seychelles and operates in more than 100 countries. Last January, the company said that total trading on its platform grew by 700% during 2021.