Southampton To Pay Bonuses In Bitcoin

Bitcoin continues to creep into professional soccer as Southampton Football Club signed a three-year deal with Coingaming Group to be the club’s main partner, which will see remain its jersey sponsor, according to a report.

This partnership allows Southampton’s players to receive their yearly performance bonus paid in BTC and is the biggest sponsorship in its club history, per the report.

Let’s put into perspective how bullish this can be for Bitcoin: The Saints’ star striker Danny Ings’ salary makes him about $5.35 million (£3.9 million) per year. If he’s paid a 5 percent bonus, for instance, that would net him about $268,000 (£195,000) in bitcoin.

All 24 players on Southampton’s roster will be eligible to receive bitcoin as their bonus payments. Southampton plays in the English Premier League, which has massive sums of money going to players left, right and center. The potential for these salaries to be paid in bitcoin is extremely bullish, as that would be a significant amount of BTC being taken off the market, and one can only assume that the players who do opt into accepting bitcoin will store it in cold storage.

This was Southampton’s first season with the logo on their uniforms, and the CEO of Coingaming Group, which operates, Maarja Pärt has been very pleased with the results.

Source link Bitcoin Magazine

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