The Argentine Football Association (AFA) has announced an extension of its partnership with the cryptocurrency exchange company, Binance. Following this newly signed five-year agreement, Binance has been announced as the primary global sponsor of the AFA national teams.
The partnership also includes the blockchain and cryptocurrency firm becoming the official fan token of AFA and naming the AFA Professional Soccer League for the above-mentioned time period.
The contract is defined by the organisation to be one of the major commercial agreements signed by AFA in recent years. It is also Binance’s first sponsorship deal with any national football entity around the globe.
Claudio Tapia, President of AFA, commented, “We are very happy to strengthen our relationship with Binance through this important medium-term agreement, which allows us to project actions for five years, work on various projects and establish a work plan that will undoubtedly deliver great results for both parties.
“For several years we have been significantly increasing AFA’s income and adding leading global brands in their fields. This agreement reinforces that strategy and adds an innovative multinational with a vision important for the future, in a new world like cryptocurrencies and fan tokens, where together we can grow and generate new sources of income for AFA and Pro League clubs. We welcome Binance to the AFA family.”
Originally, the AFA established an expansion strategy for its brand and emphasised the importance of collaborating with business partners such as Binance, which is the leader in the blockchain industry.
Maximiliano Hinz, General Director of Binance for Latin America, said, “Sport is always a powerful means for people to connect with each other and with their passions and, in Argentina, soccer is especially relevant in that regard.
“The partnership with AFA will bring more technology and innovation to the sports industry in the country and its millions of fans and also expand crypto adoption for the benefit of users, the cryptocurrency and blockchain community, and society in general.”
Furthermore, the AFA has also announced that it will soon release its official fan token from Binance, which will become the single most official fan token substantiated by AFA in the market.
In the past, Binance has also sponsored Santos FC and FC Porto. It has also sponsored the African Cup of Nations and the European soccer teams Portugal and Italy.