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AZ Alkmaar is set to become the first professional football club in the Netherlands to pay player salaries in Bitcoin.

AZ Alkmaar is set to become the first professional football club in the Netherlands to pay player salaries in Bitcoin (BTC).

In a statement posted on the club website on Thursday, the Eredivisie side, which finished third in the 2020/2021 Dutch football season announced crypto broker Bitcoin Meester as its exclusive and official cryptocurrency partner until mid-2024.

According to the announcement, the sponsorship deal with be finalized fully in Bitcoin, with the Dutch club stating its intentions to keep the BTC sum on its balance sheet.

AZ Alkmaar will also reportedly begin paying its players in Bitcoin, joining the growing list of sports franchises adopting BTC for paying professional athletes.

For AZ’s commercial director Michael Koster, the appeal of Bitcoin and crypto is undeniable hence the club’s decision to adopt BTC. “The cryptocurrency market is booming, with an exponential growth of users in recent years,” Koster added.

Koster added that non-crypto entities like football teams require the guidance of established market participants like Bitcoin Meester. Indeed, the crypto broker is one of the few licensed cryptocurrency businesses by the Dutch central bank.

Crypto regulations seem to be a major topic of discussion among the authorities in the Netherlands, with one government official recently calling for a complete Bitcoin ban.

Crypto companies are increasingly entering into sponsorship deals with sports teams to boost brand recognition and grow their business. As previously reported by Cointelegraph, Crypto.com recently announced a global partnership with Formula 1.

From Major League Baseball to the National Basket Ball Association, several American sports franchises and star athletes are also embracing Bitcoin and crypto. Back in June, seven-time Super Bowl champion Tom Brady inked a celebrity crypto-endorsement deal with crypto exchange giant FTX.

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Crypto.com announces global partnership with Formula 1

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The exchange said it will become the racing series’ official cryptocurrency sponsor and NFT partner, hinting at a crypto-themed award for one of the events.

Cryptocurrency exchange Crypto.com has announced it will partner with Formula 1 in its racing series this year.

In an announcement today, Formula 1 said Crypto.com would be the new global and inaugural partner for its 2021 Sprint series, scheduled to begin on July 17. As part of the agreement — which CNBC reported to be $100 million — the exchange will become the racing series’ official cryptocurrency sponsor and nonfungible token, or NFT, partner.

“We will rely heavily on [Crypto.com’s] expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence,” said Formula 1’s director of commercial partnerships Ben Pincus.

Formula 1 hinted that race car drivers would have the opportunity to win a new potentially crypto-themed award, which will be announced prior to the Belgian Grand Prix event on Aug. 29. The racing series has also announced its intention to follow Crypto.com’s May commitment to become carbon negative within 18 months, saying it plans to be ”net zero carbon” as a sport by 2030.

“We are both, at the core, technology organizations focused on innovation,” Crypto.com CEO and co-founder Kris Marszalek told Cointelegraph. “It is in the DNA of organizations like ours to find smart, technological solutions to hard problems like addressing climate change.”

Crypto.com will already have its logo appear on Aston Martin’s team at Formula 1 events based on a partnership finalized in March. At the time, Marszalek said the exchange would be looking to leverage the collaboration to promote other cryptocurrency-related products.

Pro basketball league in Canada will offer players Bitcoin salaries

June 18, 2021 Coin Telegraph

Basketball

"The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer,” said Guelph Nighthawks guard Kimbal Mackenzie.

The Canadian Elite Basketball League will be allowing players from its seven teams to accept a portion of their salaries in Bitcoin starting next week.

According to a Thursday announcement, the Canadian Elite Basketball League, or CEBL, has partnered with Toronto-based cryptocurrency exchange Bitbuy to convert part of basketball players’ existing salaries from Canadian dollars to Bitcoin (BTC) on request. The league said it will arrange for the funds to be delivered to the players’ personal crypto wallets.

More than 70 players on the active roster from the Edmonton Stingers, Fraser Valley Bandits, Guelph Nighthawks, Hamilton Honey Badgers, Ottawa Blackjacks, Niagara River Lions, and Saskatchewan Rattlers will be seemingly eligible for the crypto payments. Bitbuy will also be joining the CEBL as an official sponsor.

The Nighthawks’ Kimbal Mackenzie said he would be one of the first players to accept the CEBL’s offer. The 24-year-old guard recently re-signed with the team for the 2021 CEBL season beginning June 24.

“The opportunity to be paid in Bitcoin is something I’m incredibly excited about,” said Mackenzie. “I believe cryptocurrency is the future. The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer.”

Though many sports franchises and organizations have partnered with crypto and blockchain firms, many people have expressed concern about Bitcoin as a medium of exchange given the crypto asset’s price fluctuations. Mackenzie added in a separate interview that he would accept half of his salary in Bitcoin and was seemingly unconcerned about any potential volatility:

“[If Bitcoin falls], so be it. It was a decision I was prepared to make. On the other hand, if it increases, maybe I will retire in two years.”

Since reaching an all-time high price of $64,899 in April, Bitcoin has dropped significantly following Tesla CEO Elon Musk saying the company would stop accepting the crypto asset as payment for vehicles due to environmental concerns. At the time of publication, the BTC price is $36,788, having fallen more than 5% in the last 24 hours.

NASCAR driver opts for crypto payment in sponsorship deal

June 17, 2021 Coin Telegraph

Bitcoin

"There are a handful of pilots who like crypto, but I am probably one of the ones who has been around long enough and I am quite comfortable with how it works," said Landon Cassill.

Landon Cassill, a professional race car driver in NASCAR’s Xfinity Series, will be receiving part of his salary in Bitcoin and Litecoin as part of a sponsorship with crypto broker Voyager.

According to a Thursday report from the Associated Press, Voyager has finalized a 19-year agreement to sponsor Cassill starting this weekend at the NASCAR race at the Nashville Superspeedway. Cassill said the firm would pay for the deal entirely in crypto, with a "portfolio of various digital assets" that includes Bitcoin (BTC) and Litecoin (LTC).

The NASCAR driver was reportedly already “very active” in the Litecoin market as well that of other tokens and has made significant gains for several years. His Twitter profile picture shows the 31-year-old in racing gear with laser eyes — an indication on social media of being interested in crypto.

Started mining Bitcoin in my basement now we’re here https://t.co/Tpl4rWTOCE
— landon cassill (@landoncassill) June 17, 2021

"There are a handful of pilots who like crypto, but I am probably one of the ones who has been around long enough and I am quite comfortable with how it works," said Cassill. "I can trade it right away before the market changes or hold on to it while the market goes up or down, take out a little, pay my bills with it and keep the rest."

Other NASCAR drivers have formed relationships with crypto firms over the years. In 2020, Twitter CEO Jack Dorsey previewed Square's Cash App car to be driven by Darrell “Bubba” Wallace in a NASCAR racing series — the vehicle featured at least two BTC logos. In addition, race car driver Ed Carpenter drove Zap CEO Jack Mallers’ “orange-spotted, Bitcoin-covered, engineering beast” at the Indy 500 last month. Carpenter and others attended the Bitcoin 2021 conference in Miami after the event.

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