She added that the identified firms appear to be providing regulated services without authorization, and making unauthorized financial promotions, both of which are criminal offences and expose the soccer clubs to “legal, operational and reputational risk.”
Lucy Castledine, director of consumer investments at the Financial Conduct Authority, said unauthorized financial firms including crypto businesses may be breaking UK laws by providing services without proper licensing.
"Millions of football fans trust their club's badge," Castledine said in a statement, adding that clubs “should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans."
Castledine emphasized that sponsorship visibility doesn't indicate regulatory approval. "A logo on a shirt means one thing: that firm paid for it," she said, adding that fans should use the regulator’s Firm Checker tool before buying any financial product.
Sports Minister Stephanie Peacock backed the FCA's position, stating that, "Sponsorship deals play a vital part in sustaining our football pyramid, but fans deserve to know that the companies associated with their clubs are responsible, accountable and safe to use."
Soccer and crypto sponsorshipThe FCA said it is coordinating with the government, the Premier League, and the new Independent Football Regulator to address unauthorized financial services marketing across professional football. The multi-agency approach reflects growing concern that unlicensed firms are using high-profile club sponsorships to reach mainstream audiences while bypassing regulatory oversight.
