English Premier League club, Watford signs a sponsorship deal with Island-based Cryptocurrency betting platform Stake.com, the club announced their partnership on Thursday.
The deal has been reported to be worth over $6.9 million, alongside the deal Stake.com will become the official front of shirt sponsor of Watford as they will wear the jerseys from the new 2022-23 season.
Watford, who were placed second in the EFL championship which saw them get promoted to the English Premier League as they finished with 91 points in 47 games, just behind Norwich city who placed in first with 97 points.
It has also been announced that the value of the deal will continuously rise given that Watford stays in the English top-flight, Watford got relegated after the Premier League 2019/20 season and have been just a year after being relegated.
Starting from $6.9 million, the rise in the value of the deal will depend on how much success Watford experiences in the Premier League and also in the EFL Cup and the FA Cup.
The deal sees Stake.com increase their portfolio even further as they recently were unveiled as the brand sponsor of UFC’s betting partner in Asia and Latin America.
The record-breaking deal will benefit both the parties involved, as it increases Stake.com ‘s global outreach and this will, in turn, benefit Watford as well, Stake will also be running crypto-based initiatives throughout the country which will include a ten million Dogecoin giveaway on their international platform.