Kieran Maguire lambasts new Cristiano Ronaldo deal amid Man United latest - 'this is desperate'
Man United wantaway Cristiano Ronaldo is being used by Binance to normalise their volatile blockchain products.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the 37-year-old’s latest commercial partnership.
Binance announced on Tuesday (15 November) that they had teamed up with Ronaldo to launch an NFT collection.
The news comes with Ronaldo, who is currently away at the World Cup in Qatar with Portugal, and United at loggerheads over his attack on the club’s operation behind the scenes.
Sky Sports reported on Saturday (19 November) that the Red Devils are now exploring ways to cancel the all-time great’s contract.
Maguire explained how Ronaldo’s endorsement of Binance could givepotential investors a false picture of their “unregulated” products’ reliability.
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“The crypto industry is desperate for legitimacy, normalisation and endorsement,” he told Football Insider’s Adam Williams.
“That is because people believe, rightly or wrongly, that if a global superstar such as Ronaldo is prepared to put his name to a product, it must have a degree of confidence.
“But that has not proved to be the case historically. A lot of people have lost a lot of money by putting their cash into products endorsed.
“They use celebrities who, under normal circumstances, are not known for their financial acumen, to push these products.”
“But that does not change the fact that the industry is still unregulated, highly volatile and easily manipulated.”
In other news, Man United in special Newcastle scouting mission.