The UK’s Financial Conduct Authority has issued a direct warning to Premier League football clubs, telling them to cut ties with unauthorized crypto and trading sponsors or risk legal liability, money laundering exposure, and significant reputational damage.
In a press release published Wednesday, the FCA said several unauthorized firms, including crypto platforms and online trading businesses, are actively using football sponsorships to reach supporters. The regulator warned that fans directed toward these platforms “risk losing all their money” and that the firms involved may already be breaching UK financial services law by operating without proper authorization.
Clubs warned over due diligence failures
The FCA confirmed it has written directly to football clubs, making clear that responsibility does not stop at signing a commercial deal. Teams are expected to carry out thorough and ongoing checks on financial services sponsors, and the regulator said it will take action where concerns have been identified.
The warning also puts clubs on notice for potential money laundering risks tied to unvetted financial partners, a dimension that goes beyond typical advertising complaints and raises the stakes for compliance teams across the sport.
Named firms and current deals
The FCA’s statement comes with specific examples attached. Crypto group LAK3 Company, which held a sponsorship deal with Wolverhampton Wanderers during the 2024–25 Premier League season, appears on the FCA’s Warning List of unauthorized firms.
BingX and OKX, which have active commercial partnerships with Chelsea and Manchester City respectively, are not on the FCA’s Warning List, but according to the Financial Times, neither firm appears on the FCA’s register of authorized companies. Their deals have given significant shirt and stadium visibility to retail-facing trading platforms at a time when the regulator has been tightening its grip on high-risk financial promotions.
The FCA did not respond to a request for comment before publication. Cointelegraph also reached out to Chelsea, Manchester City, OKX, BingX, and LAK3 Company, and had received no response at the time of writing.
Football now firmly in scope
Crypto marketing has been subject to the FCA’s financial promotions regime since October 2023, when the watchdog issued 146 alerts in its first 24 hours of enforcement. In February 2026, the FCA launched its first enforcement action against exchange HTX, formerly Huobi, over allegedly illegal crypto promotions directed at UK consumers.
The FCA said it is working alongside the government, the Premier League, and the incoming Independent Football Regulator to address unauthorized sponsorships across the sport. Any firm not authorized in the UK may only promote financial products to consumers if its advertising is approved by an authorized firm under the financial promotions regime.
The move follows a separate warning from the Gambling Commission targeting gambling adverts on children’s replica kits at four Premier League clubs, Bournemouth, Fulham, Newcastle, and Wolves, highlighting broader regulatory pressure on how high-risk financial products are marketed through football.
