2 years ago
The funds promised to the U.S. National Women’s Soccer League (NWSL) players by Voyager Digital successful a sponsorship woody whitethorn not materialize arsenic the lender filed for bankruptcy, Sportico reported Aug. 1.
The league has informed the players that there’s small anticipation of receiving the funds from Voyager, according to the report.
The NWSL had announced a multi-year woody — 1 of the biggest deals successful the league’s past — with Voyager successful December 2021. As portion of the deal, the league was expected to person fractional of the outgo successful currency portion the different fractional was expected to spell to players successful the signifier of crypto. Each subordinate was expected to get a Voyager relationship to person the crypto payments and physique their portfolios.
But portion the NWSL received the promised cash, the Voyager accounts for players were ne'er funded, Sportico reported, citing sources acquainted with the situation. Since Voyager declared bankruptcy successful aboriginal July, the aboriginal is uncertain for the promised payouts to players.
In a property statement, the league said:
“The Player Fund was ever intended to beryllium distributed into accounts astatine Voyager successful cryptocurrency, with the extremity of educating players regarding concern successful the crypto space. As such, determination was ever hazard regarding the volatility of the cryptocurrency market.”
But irrespective of what happens with Voyager’s promised payouts, the players’ basal salaries are not impacted, according to a tweet by ESPN newsman Jeff Carlisle.
From #NWSLPA enforcement manager Meghann Burke: "No subordinate is missing a paycheck. Nothing successful the CBA is successful crypto." #NWSL https://t.co/xIMqUIvN3u
— Jeff Carlisle (@JeffreyCarlisle) August 1, 2022
Voyager’s branding remains contiguous astatine the league venues. As Voyager sorts done the bankruptcy process, a solution could beryllium months oregon adjacent years away.
Former subordinate criticizes league for ‘bad business’
Ex NWSL subordinate Haley Carter criticized the league for partnering with Voyager successful the archetypal place. In a Twitter post, Carter said that the NWSL made players susceptible with a “losing scheme” that could person been foreseen. She added that the quality was expected and yet, it was inactive an “incredible disappointment.”
NWSL players being made susceptible by the NWSL to a losing strategy that virtually anyone who has followed the markets and concern platforms recognizes is simply a losing strategy is precise connected marque for the NWSL. We each knew this was coming and it’s inactive an unthinkable disappointment. https://t.co/gJJYVBnxYv
— Haley Carter (@H_C_Carter) August 1, 2022
Carter besides added that:
“… partnering with Voyager and pitching it similar it was a bully woody is inactive atrocious business.”
Several crypto platforms person inked millions of dollars worthy of sponsorship deals implicit the past fewer years.
The National Basketball Association (NBA) saw 7,300% emergence successful crypto sponsorships this twelvemonth compared to past season. Crypto companies, including Socios, Crypto.com, and FTX, among others, spent a full of $130 million connected NBA sponsorship deals past season.
Soccer has not been near untouched either — the latest 1 being Barcelona FC signing a $102 cardinal concern with blockchain-based sports instrumentality level Socios.com connected Aug. 1. In March, Crypto.com became a sponsor of FIFA, the planetary shot governing body.
The station US Women’s Soccer League sponsorship funds from Voyager successful jeopardy aft bankruptcy appeared archetypal connected CryptoSlate.
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