Dutch club PSV Eindhoven has become the first team in Europe to be fully funded in Bitcoin (BTC). This comes after the club signed an agreement with Dutch cryptocurrency company Anycoin Direct.

Dutch club PSV Eindhoven accepts Bitcoin-only sponsorship deal
On August 17, Dutch club PSV Eindhoven announced that it had signed a sponsorship contract with cryptocurrency company Anycoin Direct. This entire grant will be paid out in Bitcoin (BTC). According to Anycoin Direct, this partnership is valuable in promoting awareness of cryptocurrencies in Europe. The sponsorship contract between the two sides will last for 2 seasons and start from the 2021-2022 season.

On the PSV side, Commercial Director Frans Janssen revealed that the club has created the necessary crypto wallets to facilitate the receipt of funding and the storage of cryptocurrencies. In addition, he also appreciates the potential of cryptocurrencies and thinks that PSV’s innovation will contribute to making Bitcoin more relevant.

“The possibilities and future that the crypto world offers are very promising. As a club in the heart of the Brainport region, we are always innovating, and crypto fits this picture very well.” – PSV Commercial Director Frans Janssen shared

According to Eindhoven Dagblad, PSV will be paid around 400,000 EUR per season. Given Bitcoin’s volatility, the agreement stipulates an indeterminate guaranteed profit in the event of a BTC price drop.

In fact, this is not the first time that PSV has entered the crypto world. Previously, in April 2021, the club auctioned off the NFT collection of its historic victory in the 1988 UEFA Champions League final. The collection was released through Momentible. , a platform built on Ethereum.

Also in April 2021, a Premier League club Southampton also signed a sponsorship deal that includes performance bonuses to be paid in Bitcoin. Most recently, the Watford club announced that it has received sponsorship for the Dogecoin match uniform for the upcoming new season.