American cryptocurrency exchange Coinbase has expanded its partnership with German professional football club Borussia Dortmund (BVB), according to a recent report by German news media Handelsblatt. The financial terms of the deal were not disclosed.

The report revealed that both firms originally became partners in July 2022, but the partnership was only announced recently. As part of the deal, Coinbase advertisements were displayed on video screens during BVB’s home game while the exchange ran workshops on crypto for the club’s employees.

Coinbase Deepens Partnership With BVB

The firms are now expanding their partnership. This includes advertising the crypto exchange in the club’s stadium and promotions on all BVB marketing channels. Furthermore, Coinbase’s logo will be displayed on the perimeter of Signal-Iduna-Park, BVB’s home ground with over 81,365-seat capacity.

The report stated that the new contract will only last until June 2023 — the end of the current season. However, both parties will decide whether to renew the contract in April or May.

A Strategic Partnership

Based in Dortmund, North Rhine-Westphalia, BVB is one of the biggest clubs in Germany as well as Europe. BVB plays in the Bundesliga, the top tier of the German football league, and has won several titles, including eight league championships, five DFB-Pokals, and one UEFA Champions League.

The club also has a massive and active social media presence. As of the end of 2022, BVB has over 15 million followers on Facebook and more than 17 million followers on Instagram.

Commenting on the partnership, BVB Managing Director Carsten Cramer said: “The industry is very exciting, but still new. That’s why we want to keep our flexibility open.”

The partnership is expected to attract new users to the exchange and crypto as a whole, given the club’s level and popularity.

While the partnership is Coinbase’s first foray into football, the exchange has ongoing contracts with other sports firms. In October 2021, Coinbase signed a multi-year deal to become the exclusive cryptocurrency platform partner of the National Basketball Association (NBA).

~ By William A. Frederick ~