According to a report, Spanish football clubs are suffering losses due to partnerships with crypto sponsors. The latest club to face trouble is Celta Vigo, which partnered with Turkish crypto exchange Bitci in 2021, but has not received payment since. Celta Vigo has initiated legal action to demand payment from Bitci. Espanyol, Valencia, and other Spanish partners of Bitci have also faced payment delays from the exchange. Bitci has claimed that it has the solvency to pay all its bills but is constrained by Turkish legislation. In addition to Bitci, Iqoniq, Real Sociedad’s main shirt sponsor and a fan token issuer, went bankrupt, leaving Sociedad with unpaid sponsorship fees. Recently, two Brazilian footballers announced their intention to sue a fellow player who had convinced them to invest in a crypto pyramid scheme.
