Serie A Club SS Lazio Strikes $35 Million Sponsorship Deal With Crypto Exchange Binance

Serie A Club SS Lazio Strikes $35 Million Sponsorship Deal With Crypto Exchange Binance

On Wednesday, Serie A club SS Lazio announced a new partnership with Binance, the world’s largest cryptocurrency exchange.

The deal, which is expected to inject a total of over €30 million ($34.8 million) in Lazio’s finances, will run for two years with an option to extend it into a third year.

The Binance brand will first appear at the center of Lazio’s jersey on Saturday, when the Biancocelesti are scheduled to host Inter Milan in the eighth round of the 2021/22 Serie A season.

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“We are very proud of this new international collaboration,” Lazio’s President Claudio Lotito was quoted as saying on Lazio’s official website. “This partnership with Binance will allow us to extend our digital presence and connect us with fans and followers from all over the world as never before.”

After starting the season with a sponsorless kit, Lazio have now become the third Serie A club to feature a crypto brand as their front-jersey sponsor.

The other Serie A teams in this group are Inter Milan and AS Roma, who earlier this year struck partnerships with Socios.com and Digitalbits, respectively.

Lazio also released a note explaining that Binance will serve as the exclusive creator of Lazio’s Fan Tokens, which will start to be distributed over the next few weeks.

Fan token platforms are meant to increase engagement among fans, who can have their loyalty to the club rewarded with prizes such as original merchandise. Biancocelesti supporters from all over the world will also be able to use fan tokens to cast their vote in online polls regarding some of their favorite club’s decisions.

“With the contribution of Binance, we will draw the Lazio global fan base even closer to the life of the Club,” reads another quote by Lotito on Lazio’s website.

On the field, Lazio have had their ups and downs in the first seven league matches.

After sparking great enthusiasm among their fans following a spectacular 3-2 victory over AS Roma in the Derby della Capitale, manager Maurizio Sarri and his men suffered an unexpected defeat away at Bologna in the latest Serie A round.

The Biancocelesti, who currently sit sixth in the table on 11 points, will host the Serie A reigning champions of Inter Milan on Saturday in a match that also marks the debut of Binance as Lazio’s front-jersey sponsor.

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