Will the crypto crisis sink the sport? | Misplaced alarmism

Not without a healthy dose of the usual doomsday fantasies, the Italian press has covered in recent days the impact of the collapse of the crypto world on millionaire sponsorships in sport.

Sponsorships closely linked to the most followed sport in Italyfootball, with several of the biggest teams in the country being directly or indirectly sponsored by crypto companies.

There is a risk that teams like Rome, Juventus, Milan Et Lazio, to name only the most famous, end up with millionaire holes due to the bankruptcy of companies which, let us remind our readers, despite an 80% collapse are still very much alive? As always, it will not be very difficult to separate the prophecies of doom produced by those who have no idea how the sector works from what is really happening.

And above all, they offered strong guarantees against the payments for which they committed themselves. Remember that committed companies are like Binancewhich, despite the crisis, has launched a solid recruitment program and is, until proven otherwise, in an excellent financial situation.

Likewise, they seem to be more than solid Chiliz/Socios.com who sponsorInter directly on the shirts, as well as Rome, Milan Et Juventus through fan token.

We want to take a risk and declare the failure short term of these realities. And so we have discredit the first fantasies of some journalists, once again more attached to sensationalism than to reading data, budgets and contracts to understand how things really are.

  • It is unfair to associate these realities with others that...

They actually made big promises to a minor team in Italy then they went into hiding. It happens, but it also happens in very solid world of traditional sponsors. Businesses can fail regardless of the main business.

No one remembers walking meme Manentiwho by inconsistency Mapi Group buy it Parma only to make it fail? Did anyone then castigate consulting firms (a category to which Mapi Group belonged, at least in theory)? And so even that point should be denied once and for all, sending the sender of accusations against a sector which, despite a historic crisis, is still walking on its own feet.

This is perhaps the only interesting and true subject to discuss for the next few months, if this situation of uncertainty persists in the market. Many of the possible millionaire sponsorships that could have been budgeted for the next few years will be put on hold pending better times.

This is what the New York Post regarding the sponsorship of FTX for the New York Giants. Which would have been put on hold given that just the popular exchange would be reassessing some entertainment spending.

It will probably not be the last news in this sense that we will hear, but it is not the sign of a creaky sector, as many Italian journalists dream of. But it is the sign of a sector which, being made up of companies, must take care of everything related to the budget and the planning of future expenses. As for the Italian football teams, they are more than solid at least in the sponsorships already signed.

Token fans are also in the cauldron

Which are not assets to speculate on but tokens with which to vote for your team's decisions. These too ended up in the cauldron made by the journalists, a sign of the absolute ignorance of those who wrote certain articles that went around the internet.

Nobody with a minimum of salt in their nets has ever invited them to be treated as an investment asset: it is a mechanism for participation in the life of the team that accompanies you. And if someone put in thousands of dollars in savings, it can't be the fault of a declining market. We relaunch our usual appeal: it is better to inform than to terrorize. But to inform, you must study and understand. To terrify, just make the usual buzzword soup.

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