Ajax and other football clubs sign crypto deals: End of traditional sponsorship?
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5 Feb 2025 •
Reading time: 4 minutes Now that gambling companies are no longer allowed to act as sponsors in the Netherlands, football clubs are turning to a new alternative: crypto companies. Research shows that clubs such as Heerenveen, Excelsior and Ajax have recently signed sponsorship deals with crypto companies.
Feyenoord, Sparta and the KNVB have been working with this sector for some time. However, experts warn of the risks involved, as crypto companies can pose the same financial and addiction risks as gambling companies.
The contradiction of social responsibility
Researcher and expert in the field of football finance Job Gulikers expresses his concerns about this development.
“Clubs often emphasize how socially responsible they act. But at the same time, they expose their fans to products that can be addictive or carry financial risks. That is a contradiction.”
The crypto market started with Bitcoin in 2009 and has since grown into a multi-billion dollar industry with various digital currencies without intrinsic value. While there are opportunities to make money quickly, the risk of losing a lot of money is just as great. Football clubs are looking for new sources of income now that gambling companies are no longer allowed to sponsor from July 2025.
Crypto sponsorship without warnings on the pitches
Despite the risks, crypto sponsors appear on Dutch football pitches without much warning. Clubs such as Heerenveen, Excelsior and Ajax have recently closed deals, while Feyenoord, Sparta and the KNVB have been working with crypto companies for several years. A total of thirteen clubs have had crypto sponsors or currently have such a sponsor.
Experts warn of similarities with gambling
According to Tony van Rooij, chief researcher gambling & digital media at the Trimbos Institute, the crypto world shows many similarities with gambling.
“The idea that you can get rich quickly is an important factor in both worlds. At the same time, we see in addiction care that people with gambling problems often also engage in crypto. Even minors get involved in crypto trading. The sector has no duty of care in the area of health and that is worrying.”
Addiction risks and financial consequences
Floor van Bakkum of addiction clinic Jellinek sees the first cases of crypto addiction appearing.
“It always takes a while for people to develop an addiction, recognize it and then seek help. But the appeal of quick profits plays a major role in addiction. The more often it happens, the more normal it becomes. Clubs must take their responsibility in this.”
The number of crypto addicts is also growing at addiction clinic SolutionS. Director Michael de Munnik speaks of an upward trend. In addition to addiction risks, those involved also run major financial risks. The Netherlands Authority for the Financial Markets (AFM) intervenes in comparable products such as binary options and warns that crypto is very risky and complex. The AFM has even advocated for more regulation of the crypto market.
Clubs run financial risks due to deals with crypto companies
Not only supporters, but also the clubs themselves run risks. Real Sociedad and FC Groningen made a deal with crypto company IQONIQ, which quickly went bankrupt. Sociedad is still waiting for more than eight hundred thousand euros and Groningen for tens of thousands of euros.
Atletico Madrid made a five-year deal with WhaleFin for 40 million euros per year, but the crypto company terminated the contract after only six months. The club is trying to get another 20 million euros back through a lawsuit. The same happened at Inter Milan with DigitalBits, where the club missed out on 24 million euros.
Financial hunger more important than responsible entrepreneurship
Why do clubs take this risk? According to Gulikers, it is not about survival, but about pursuing financial success.
“Clubs don’t necessarily need the money, but they want to participate in the financial race. More money means better players and possibly better performance. This can only be stopped with strict regulations. Clubs must take responsibility towards their fans.”
The KNVB’s response to crypto sponsorship
The KNVB entered into a sponsorship contract with crypto company Bitvavo in 2022 and acknowledges the risks.
“Due to price volatility, cryptos are classified as risky products. We were aware of this when we entered into the partnership. Bitvavo is registered with the Dutch Central Bank and complies with the regulations.”
According to the KNVB, the sponsorship is aimed at brand awareness and not at recruiting new users. One of the goals is to share knowledge about safe trading in cryptos. Thirteen clubs that have had crypto sponsors did not respond to questions or did not want to provide a substantive response.