Bitcoin has the power to transform the financial aspect of any operation. Sparta Rotterdam, a Dutch soccer team playing in the Eredivisie, inked a sponsorship deal with Knaken. Both parties will commit to setting up a Bitcoin “piggy bank” to fund the soccer team’s youth academy.
Sparta Rotterdam Acknowledges Bitcoin’s Potential
It is not the first time Bitcoin and sports come together in a meaningful manner. Outside of having Bitcoin-related companies as shirt sponsors, there are other options to explore. Dutch cryptocurrency broker Knaken acknowledges there may be better avenues to explore. Inking a deal with top flight soccer team Sparta Rotterdam illustrates that point perfectly.
To be more precise, the Bitcoin broker and Sparta Rotterdam agree to set up a Bitcoin “piggy bank” to fund the club’s youth academy. Every time Sparta Rotterdam notes a positive team effort, the club will receive a reward in Bitcoin. The club has set up its own Bitcoin address, which currently contains 0.08 BTC. This amount is set to increase based on the top flight’s team efforts over time.
Youth academies are the lifeblood of any sports team, Knaken founder Ronald Jonkers explains. During COVID-19, these academies have come under alto of financial pressure. Offering a helping hand is a worthwhile effort. Bitcoin is a perfect tool due to its decentralized nature and potential to retain value over time.
Numerous major soccer players have come out of Sparta Rotterdam’s youth academy over the years. Sustaining these efforts is crucial, but will require extra financial support. Due to Sparta Rotterdam being a tradition-rich club, Knaken acknowledges it is a good team to support with Bitcoin.
Slow Start Poised to Accelerate
Even though the Bitcoin wallet for this venture was set up in September, there is still a long way to go. Two transactions have been recorded to date. The first transfer comes from someone not affiliated with either Knaken or Sparta Rotterdam. It is possible a team fan sent over the Bitcoins, although there has not been confirmed. The sender’s address references “AJAX”, another top Eredivisie team.
Under the current agreement, Sparta Rotterdam will earn 0.02 BTC per goal scored. Earning 200 euro for scoring a goal is never a bad deal. Other events eligible for rewards include maintaining clean sheets, winning games, and finishing in the Eredivisie rankings top 9 at the end of the season.
Whether the club will convert the Bitcoin transfers to Euro at the end of the season, remains unclear. With this extra incentive, the team has an extra reason to put its best foot forward at all times. Their youth academy’s future can use any and all extra capital. Keeping the funds in BTC after this season may be a lucrative option to explore.
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