FCA warns Premier League clubs over unauthorised crypto deals

The Financial Conduct Authority has written to Premier League and other professional football clubs warning that sponsorships with unauthorised crypto companies and online trading platforms may breach UK financial services law and expose supporters to financial harm.

The regulator warned some partners appear to be offering regulated services without permission and issuing unauthorised financial promotions, actions that are criminal offences. The letters set out legal, operational and reputational risks for clubs that enter these commercial deals.

Fiona Mackinnon-Miller, head of Scams, Promotions, Engagement & Perimeter at the FCA, wrote that the regulator has “seen an increase in football club partnerships with unauthorised firms, some of which appear to be operating unlawfully.” The correspondence asks clubs to review current and prospective sponsorships.

Lucy Castledine, director of consumer investments at the FCA, warned fans can be targeted through high-profile sponsorships and noted the visibility of a partnership does not equal regulatory approval. She added: “Millions of football fans trust their club’s badge” and advised supporters to check firms using the FCA’s online Firm Checker before buying any financial product.

Sports Minister Stephanie Peacock backed the regulator’s action, saying sponsorship deals support the football pyramid while adding that fans deserve “responsible, accountable and safe” partner companies. The FCA noted it is coordinating with government, the Premier League and the new Independent Football Regulator to address unauthorised financial marketing across professional football.

The FCA has recently taken enforcement steps. Officers, working with tax authorities and organised crime units, carried out coordinated operations at multiple London P2P crypto sites. Cease-and-desist letters were issued and traders were ordered to stop unauthorised activity; the actions were taken under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.

Industry figures underline why clubs attract such partners. Data shows Manchester City’s commercial revenue reached $475 million in 2025 compared with $386 million from broadcasting the same year, a shift that has made club sponsorships an appealing route for digital-asset and trading firms seeking mainstream exposure.

The FCA urged clubs to check whether prospective partners are legitimately authorised before promoting them to supporters and warned that continued ties to unauthorised firms may leave clubs open to enforcement action. Supporters were advised to verify firms via the FCA’s Firm Checker before engaging with financial or crypto products promoted by clubs.