Gemini's Five-Year Sponsorship Deal: Paid in Bitcoin to Support Local Football and Community
Staff Writer • 2024-07-02
Gemini, the leading cryptocurrency exchange, has announced a groundbreaking five-year sponsorship agreement with Real Bedford Football Club. This deal, paid upfront in Bitcoin, aims to bolster the club’s continued success and provide new opportunities for children in the local community. Commitment to Long-Term Success The long-term agreement underscores Gemini’s dedication to supporting Real Bedford in its ambitious goal of reaching the Premier League. This follows a recent announcement that Winklevoss Capital, the investment firm owned by Gemini founders Tyler and Cameron Winklevoss, made a $4.5 million Bitcoin investment into the club in April 2024. Real Bedford, a non-league football club based in Bedford, was acquired by journalist and local resident Peter McCormack, who also hosts the “What Bitcoin Did” podcast. Known as the “Bitcoin football team,” Real Bedford has fully embraced Bitcoin, allowing players to receive payments in Bitcoin and enabling fans to purchase tickets and merchandise using the digital currency. Gemini began its sponsorship of the club in 2022, sharing a vision of supporting the growth of the digital economy and promoting financial inclusion. Strengthening Financial Foundations Gemini’s five-year sponsorship deal is one of the longest multi-year shirt sponsor agreements outside of the UK’s professional football leagues. The sponsorship funds will be deposited directly into the club’s Bitcoin treasury, which safeguards the club’s financial health against high inflation. This treasury supports the club’s ambitious plans, including the development of a new training center and the launch of a youth football academy focused on underprivileged children in the Bedford region. The announcement comes on the heels of the club’s recent successes, including two consecutive league promotions and cup victories over the past two seasons, with an impressive 81% win rate. Statements from Leadership "Our strategic five-year deal reaffirms our continued conviction that Real Bedford — powered by Bitcoin and Peter’s leadership — has the ability to defy the odds, upset the establishment, and dethrone incumbents,” said Marshall Beard, COO of Gemini. “Through our investment, Real Bedford’s balance sheet will be fortified with digital assets, giving them advantages on and off the pitch. We can’t wait to see what the club achieves in the coming years.” Peter McCormack, Club Owner of Real Bedford, expressed his gratitude, stating, “I want to extend a massive thank you to Gemini for renewing their sponsorship agreement with Real Bedford for another five years. By accepting payment in Bitcoin, this deal strengthens our economic foundations. In today's climate of reckless government economic policies, marked by massive borrowing, high inflation, and soaring interest rates, hardworking people are bearing the financial burden. While the government continues to stifle the productive class, Bitcoin offers a lifeline, providing individuals and businesses a way to safeguard their financial future. By integrating Bitcoin into our treasury, we have achieved a +62% return, thereby strengthening the club's financial position and protecting our cost base against the recent surge in inflation. Real Bedford is happy to share its Bitcoin strategy with any other club or business feeling the strain of the current economic environment.” Onwards and Upwards The partnership between Gemini and Real Bedford symbolizes a forward-thinking approach in both sports and finance, paving the way for a future where digital assets play a crucial role in supporting and growing local communities.
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