Kieran Maguire: New ‘seven-figure’ Man City deal set to be ‘scrutinised’ by Premier League
Man City are likely to have their new global cryptocurrency partnership scrutinised by the Premier League.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the deal with Seychelles-based firm OKX.
City announced a tie-in with OKX last Friday (4 March), four months after their last crypto deal with 3Key was terminated over legitimacy concerns.
The reigning Premier League champions now have 36 global partners, as well as a huge stable of location-specific sponsorship deals.
The Premier League recently introduced new rules on seven-figure sponsorship deals in order to ensure fair-market value is met.
And as the OKX deal is likely to be worth at least £1m, the top flight will examine it for fair-market value, claims Maguire.
“If it’s a global partner, you might get £1m-plus, although it varies very much from industry to industry,” he told Football Insider‘s Adam Williams.
“City are aware of the new regulations which effectively scrutinises for market value any deal greater than seven figures.
“Therefore, in terms of Premier League teams, there is a case to strike as many little deals as often as you can from a marketing point of view.
“Breaking down your sponsorship on a geographical or industry-by-industry basis is also the way forward.”
City revealed a £4.8m profit in their last set of accounts and are the only Premier League team not to have posted a loss for 2020-21.
The books included an astonishing £271m worth of commercial income.
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