Coinbase Expands BVB Sponsorship Scope: Takes It Beyond Germany
financemagnates.com 27 August 2024 09:40, UTC With the commencement of the 2024–2025 football season, Coinbase has expanded the scope of its existing partnership with German football club Borussia Dortmund (BVB). The sponsorship deal was originally agreed upon in July 2022 and will be in place for the next three years.
Announced today (Tuesday), the crypto exchange and the football club have geographically expanded their cooperation to include Europe and Singapore, thus extending beyond Germany. The original and the enhanced deal was brokered by SPORTFIVE.
A “Long-Term Commitment”
“The extension of our partnership once again demonstrates Coinbase’s long-term commitment to Germany’s most likeable football club,” said Jan Sell, CEO of Coinbase Germany. “We are excited to expand our partnership beyond Germany to reach BVB fans in other markets.”
Under the previous terms, the US-headquartered crypto exchange gained advertisement rights at BVB’s official stadium, Signal Iduna Park, with a capacity of 81,365, including branding on the perimeter banners and cam carpets.
With the expansion of the sponsorship deal, Coinbase will now showcase its brands in all substitutions at home games, and the perimeter banners will be displayed to spectators throughout Europe, the Middle East, and Africa.
Additionally, the crypto exchange and BVB will jointly advertise in sports media and produce content to be posted on the football club’s social media channels, which have 20.9 million followers on Instagram, 15 million followers on Facebook, 4.4 million followers on X (formerly Twitter), and 1.3 million subscribers on YouTube.
The Season of New Sports Sponsor Kicks Off
Ballspielverein Borussia 09 e. V. Dortmund, commonly known as Borussia Dortmund, is one of the top football clubs in Germany and Europe. Based in Dortmund, the club was established in 1909 and has won several domestic and international titles over the years.
The crypto exchange further highlighted that it would “make greater use of the BVB brand on its own channels,” which include its website, social media, and email marketing. It will also distribute information about top matches to its customer base.
Coinbase is the top cryptocurrency exchange in the United States and one of the few publicly listed companies in the industry. Between April and June, the exchange generated $1.4 billion in revenue and a net income of $36 million.
“The brand partnership between Coinbase and BVB began as a small test balloon and is now already going into its second extension,” added Carsten Cramer, Managing Director of Borussia Dortmund. “With each new step, we have deepened and expanded our cooperation: additional regions, additional advertising media and a longer time horizon.”
Coinbase’s partnership with BVB was strategic, as it inked the deal during its European expansion phase. The exchange received authorisation from Germany’s BaFin in 2021 to provide cryptocurrency custody services, following approvals in Italy and the Netherlands in 2020.
Apart from the BVB deal, Coinbase also sponsors the National Basketball Association (NBA) with a multi-year partnership deal and is also the exclusive partner of the Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League, and United States Basketball.
