Dr Dan baffled by ‘risky business’ at Man City amid ‘really strange’ sponsor mystery
It is “really strange” that Man City seemingly failed to do due diligence before signing off on a partnership with cryptocurrency company 3Key.
So says finance expert and new Football Insider columnist Doctor Dan Plumley, speaking exclusively about the now-suspended sponsorship deal.
City announced the deal with 3Key last week but it has since come under scrutiny for its lack of online presence.
Websites linked to 3Key have gone offline and individuals apparently connected with the company have no digital footprint.
As reported by The Guardian on 19 November, the Premier League champions have now paused the partnership while they conduct inquiries.
Plumley is mystified by the situation and warned clubs to do appropriate background research before they get in bed with crypto companies.
“This is a really strange one,” the Sheffield Hallam University expert told Football Insider correspondent Adam Williams.
“The club have said they have undertaken the background checks but they would say that either way.
“It is striking. Given the way City operate, it is strange that they wouldn’t have done due diligence.
“They are not a club who do things flippantly. The way they took on Uefa with regards to FFP is testament to that.
“They are now looking at further enquiries. They are saying that the partnership has not been activated yet so that gives them a bit of a cushion.
“The other issue it raises is the prominent role of crypto in sport when in reality we don’t know a lot about it.
“These are really, really risky business propositions in terms of where they go in the future.”
In other news, injury expert predicts up to 18 Man City players “at risk” after Premier League announcement.