Crypto Exchange OKX Is Paying $20 Million-Plus To Sponsor Manchester City Training Kit This Season

OKX will become Manchester City's official training kit partner for the 2022-23 season. The deal will also see select Manchester City players star in crypto education content produced by OKX. OKX previously named OKX as the club's official cryptocurrency partner in March. Financial terms of the deal were not disclosed, but a source tells Forbes that it will net the club more than $20 million this season. A Nielsen report from earlier this year estimates that crypto spending in sports will rise to $5 billion by 2026. The crypto downturn of late has cast doubt on the future of the space, but OKX plans to grow its workforce by 30% in addition to its partnership with Manchester City and the Los Angeles Angels. The Washington Wizards also had a deal with an unnamed crypto company Source