Crypto.com Becomes UFC’s Official Partner – $175M Record Deal
The cryptocurrency exchange Crypto.com announced a partnership with Ultimate Fighting Championship (UFC) as the firm’s global fight kit partner. According to sources familiar with the matter say the partnership is a ten-year deal worth $175 million and the UFC’s largest sponsorship deal to date.
The popular cryptocurrency exchange Crypto.Com continues with impressive partnerships with sports brands after a new deal with UFC. Shortly after announcing a collaboration with Formula 1, Crypto.Com has become an official partner of the Ultimate Fighting Championship (UFC).
The partnership makes Crypto.com UFC’s global fight kit partner. This means the Crypto.com brand will be featured on UFC fighter uniforms and the brand will be shown this Saturday, July 10, during the much anticipated 3rd fight between Dustin Poirier and Conor McGregor.
Back in March, the UFC partnered with Draftkings in a deal that was reported to be worth $100 million. Unnamed sources familiar with the matter have revealed to publications like sportico.com and CNBC that the Crypto.com deal with the UFC was estimated to be around $175 million and for a ten-year period, making it largest in UFC history.
UFC Has Interest in Cryptocurrencies
The COO of UFC, Lawrence Epstein said during the announcement that cryptocurrencies are now on the firm’s radar:
“If we had talked a couple of years ago, crypto might not have been on the radar, but it’s sort of a sign of the times. It’s new, but it’s moving quickly, and it’s very dynamic.”
Epstein also mentioned UFC’s interest in Crypto.com’s young consumer base and reach:
“In general, that consumer is younger, and based upon the data that we’ve seen, that consumer also has a fair amount of discretionary income. It’s an attractive group to try to get interested in your product.”
The deal between the UFC and Crypto.com follows the variety of partnerships between crypto firms and sports companies. FTX Trading Limited has led the pack when it comes to sports partnerships with recent deals with MLB. The NBA’s Portland Trail Blazers recently partnered with the crypto cashback company Stormx. Another NBA team Boston Celtics just announced partnership with Blockchain provider Socios.com.
Crypto.com’s $175 million deal with UFC is quite a sizable investment if the unnamed sources are correct.
The UFC has been operated by Dana White since 2001 and since he became president of the MMA organization, the UFC has become a multi-billion-dollar enterprise.
