Crypto companies have voraciously sought sports sponsorships — and now they can do so with the most popular league in the U.S.

The NFL adjusted its policy toward blockchain-based companies on Tuesday, permitting teams to seek sponsorships in that realm.

The move allows for “promotional relationships without undertaking excessive regulator or brand risk.”

• The league initially blocked all team sponsorships with crypto and blockchain-related companies.
• Teams are still barred from advertising blockchain companies on stadium signs and may not promote cryptocurrency or blockchain fan tokens.
• Team deals will be no longer than three years, for now.
• Teams were also granted certain permissions to pursue NFT partnerships. In September, the league struck a deal with NBA Top Shot producer Dapper Labs on an NFT project.

Teams may see the Golden State Warriors’ $10 million deal with crypto trading platform FTX as a precedent when negotiating. 

The league will discuss the changes with owners at the league’s annual meetings, which commence on Saturday.

Official Crypto Sponsor

The NFL itself could open the bidding for its official blockchain sponsor. Coinbase became the NBA’s exclusive cryptocurrency platform sponsor in a four-year, $192 million pact in October. 

The Los Angeles Lakers renamed their home Crypto.com Arena in November in a $700 million deal.

Deloitte’s Football Money League report, which covers the highest revenue-generating soccer clubs, found that the top 20 combined for $9 billion in revenue during the 2020-21 season.

In soccer’s first full season since the start of the pandemic, teams saw revenue grow 1% from the season prior, but nowhere near the $10.3 billion brought in during the 2018-19 season.

For the first time ever, Manchester City jumped five spots to become the top earner on the list, bringing in $711.3 million. And for the first time, it landed ahead of Manchester United, which brought in the fifth-highest revenue at $615.5 million.

• Real Madrid took second, recording revenue of $706.7 million.
• Bayern Munich was third with $674.4 million in revenue.
• Barcelona, which topped last year’s list, dropped to fourth with $642.1 million.

The Wolverhampton Wanderers made the list for the first time with $241.8 million in revenue, and Aston Villa made its first appearance on the list in 10 years with $228.7 million.

Soccer Segments

The Premier League took over the list with 11 clubs, La Liga placed three, Serie A and the Bundesliga had two each, and Ligue 1 and the Russian Premier League ended with one each.

Average revenue for the teams dropped 12% from 2018-19 to $451.1 million, with matchday revenue at $122.4 million, the lowest in the study’s history. Deloitte says clubs may have missed out on more than $2.2 billion during the last two seasons.

The sale of Angel Stadium moved closer to being finalized on Monday after a judge rejected claims that the City of Anaheim failed to meet due process requirements.

The lawsuit dates back to a 2019 agreement by the city to sell the stadium and surrounding 150 acres to SRB Management, a new company started by Los Angeles Angels owner Arte Moreno.

“None of these claims have merit,” Orange County Superior Court Judge David Hoffer wrote, rejecting the People’s Homeless Task Force’s notion that the sale was negotiated without sufficient public input.

• The $320 million transaction calls for $150 million for the city and $170 million for affordable housing and a park.
• The deal entails the construction of a mini-city surrounding the stadium with hotels, shops, and restaurants.
• Moreno agreed to keep the Angels in Anaheim through 2050 as part of the pact. The team’s current lease runs to 2038.
• The city would get 466 units of affordable housing and $652 million in tax revenue over 30 years, according to a study commissioned by Moreno.

The two sides have 10 days to file an appeal of Hoffer’s ruling.

State Settlement

The sale also received pushback from the California Department of Housing and Community Development, which ruled that it violated an affordable housing law. 

Anaheim and the state government are negotiating a settlement, which could force the city to pay a $96 million fine that would be used to expand affordable housing in Anaheim.

Sony is once again adding its name to the recent flurry of acquisitions taking place across the gaming industry.

The tech giant has agreed to acquire Montreal-based video game development company Haven Studios for an undisclosed amount. Sony and Haven Studios will work together to develop new and original intellectual property with a multiplayer experience for PlayStation consoles. 

The deal for Haven Studios adds to a growing list of acquisitions by major gaming companies. 

• In January, Microsoft announced plans to acquire video game holding company Activision Blizzard in a $68.7 billion, all-cash deal.
• Earlier this month, Epic Games announced plans to acquire independent music storefront Bandcamp for an undisclosed amount. 

Sony’s purchase also marks its second gaming-related acquisition in 2022. In January, the Tokyo-based company agreed to acquire video game developer Bungie, the original creator of “Halo,” in a deal valued at $3.6 billion. Sony’s deal for Bungie follows Microsoft’s acquisition of the company in 2000 for an undisclosed amount. Bungie split from Microsoft in 2007.

Hot and Cold 

Sony generated $26.5 billion in revenue in the quarter ending Dec. 31, 2021, a 12.5% increase year-over-year.

The company saw its gaming sales reach $7 billion during the quarter, an 8% drop compared to the same period the year prior, due to the semiconductor shortage plaguing the tech industry.

Sony also reported $2.3 billion in gaming hardware sales, a 22.3% downtick year-over-year.