New York-based crypto exchange Gemini has signed a five-year sponsorship deal with Real Bedford Football Club. Gemini’s Winklevoss twins Tyler and Cameron co-owned the club in April when its investment arm Winklevoss Capital secured a $4.5 million investment deal with the Real Bedford. McCormack, who got fam by hosting a crypto podcast, ‘What Bitcoin Did,’ bought the football club in 2021.
Upon asking why Gemini signed another deal, a spokesperson for Gemini clarified that the new sponsorship deal is separate from the previous one. He revealed that the club has been promoting the crypto platform since 2022 by advertising Gemini’s logo on players’ shirts and pitches, leading the exchange to renew the sponsorship.
However, the commentator declined to reveal the valuation of the latest agreement, declaring Real Bedford to be Gemini’s only Sports investment.
Gemini to pay five-year deal in Bitcoin
Notably, the football club will receive payment for the five-year deal in Bitcoin only, which will be sent to the club’s Bitcoin treasury account. The club will use this money to ensure its success and open new opportunities for local children willing to build football careers, said Gemini.
The exchange said Club’s Bitcoin Treasury protected its investments and savings from inflation hikes. It continued, adding that the treasury will make it easier for Real Bedford to create a training center or football academy in Bedford focused on underprivileged children.
It was not the first time that the club engaged with crypto payments. Instead, it already has linked its operation to Bitcoin, allowing fans to purchase tickets and pay players in the crypto.
While speaking on the development, Peter McCormack expressed how Real Bedford achieved a remarkable 62% return by featuring Bitcoin in its treasury. This strengthened the club’s financial status and protected it from inflation risks. Interestingly, he declared that the club would be happy to explore his Bitcoin Investment strategy with any other club worried about finance due to current economic circumstances.
