UK Financial Regulator Warns Premier League Clubs Over Unauthorized Crypto Sponsorship Deals

On June 3, 2026, the UK Financial Conduct Authority warned Premier League clubs to avoid sponsorship deals with unauthorized financial firms, citing money laundering risks and legal liability. LAK3 Company, which sponsored Wolverhampton Wanderers in 2024-25, appears on the FCA Warning List. BingX partnered with Chelsea and OKX with Manchester City, neither appearing on the FCA register of authorized firms. The FCA brought crypto marketing under its financial promotions regime in October 2023.

FCA warning to football clubs

• ▪The UK Financial Conduct Authority said it will take action where concerns have already been identified regarding football club sponsorships
• ▪The UK Financial Conduct Authority warned football clubs, including those in the Premier League, to avoid sponsorship deals with unauthorized financial companies on June 3, 2026
• ▪Fans using unauthorized financial firms risk losing all their money according to the UK Financial Conduct Authority
• ▪The UK Financial Conduct Authority expects every UK club to conduct proper, ongoing due diligence on financial services sponsors
• ▪The UK Financial Conduct Authority wrote directly to football clubs telling teams that sponsorship deals with unauthorized financial firms could expose clubs to legal liability, money laundering risks, and reputational damage

Unauthorized crypto sponsorship deals

• ▪LAK3 Company sponsored Wolverhampton Wanderers in the 2024-25 season and appears on the UK Financial Conduct Authority's Warning List of unauthorized firms
• ▪The UK Financial Conduct Authority said several unauthorized firms, including crypto businesses and online trading platforms, are using football sponsorships to target unwitting supporters
• ▪OKX partnered with Manchester City football club
• ▪BingX and OKX do not appear on the UK Financial Conduct Authority register of authorized firms
• ▪BingX partnered with Chelsea football club

Crypto marketing enforcement regime

• ▪The UK Financial Conduct Authority brought crypto marketing under its financial promotions regime in October 2023
• ▪The UK Financial Conduct Authority launched its first enforcement action against global exchange HTX (formerly Huobi) in February 2026 for allegedly illegal crypto promotions to UK consumers

Premier League regulatory scrutiny

• ▪The Gambling Commission issued a warning over gambling adverts on children's replica kits at four Premier League clubs: Bournemouth, Fulham, Newcastle, and Wolves
• ▪The UK Financial Conduct Authority is working with the government, the Premier League and the incoming Independent Football Regulator to tackle unauthorized financial sponsorships across the sport

Financial promotions compliance requirements

• ▪BingX has registered or obtained the applicable regulatory approvals to operate in countries where it provides its services
• ▪Any firm not authorized in the UK can only promote financial products or services to consumers if its adverts are signed off by an authorized firm under the financial promotions regime