Dr Dan: Man United 'need to tread carefully' as Premier League probe lined up
Man United “need to tread carefully” after the Premier League pledged to investigate clubs’ relationship with cryptocurrency platforms.
That is according to finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about United potentially signing a partnership with a cryptocurrency company.
According to The Times‘ Martyn Ziegler (3 December), Man United have held talks with trading platform, Binance, about a possible partnership.
The publication has previously reported that the Premier League is set to investigate its clubs’ relationship with cryptocurrency providers.
This is despite the league itself looking into signing a partnership with a cryptocurrency platform.
When asked by Football Insider‘s Dylan Childs for his assessment of the latest, Plumley said: “I’m not surprised to see Man United pursuing the deal.
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“The surprise comes when you dig a bit deeper into some of these companies. It looks like there is not a lot to them.
“There is a real insatiable desire for revenue generation at all clubs. They have their TV contracts but there is always a desire to do more. They see cryptocurrency as an opportunity.
“It makes sense for the cryptos in the sense that some of them are still start-up companies. The association with big football clubs is a strength for them.
“However, for the clubs there is a note of caution. Nobody really knows where these crypto companies are going. They might be everything people are tipping them to be in the future but we don’t know that yet so there is a risk from an association point of view.
“There is also the moral side of it as well. Potentially, there is a need to tread carefully with these sort of deals moving forward.
“There is nothing to suggest the clubs are not doing their background checks but there is still a lot about these companies that we don’t know.”