Crypto.com Scores Another Major Partnership With $25M Australian Football League Deal - Toyota Motor (NYSE:TM)

Cryptocurrency financial services platform Crypto.com (CRYPTO: CRO) scored yet another major sports-themed partnership, this time with the Australian Football League (AFL).

What Happened: Crypto.com struck a major crypto sports sponsorship in Australia now that it started backing the Australia Football League through a $25 million deal, according to an announcement shared with Benzinga. The funds will be provided by the crypto giant over the next five years, beating the league's existing $18.5 million sponsorship contract with Toyota Motor Corp. (NYSE:TM).

The agreement sees the AFL become the first Australian sports league Crypto.com has partnered with, while AFLW will become the first elite women's sports competition Crypto.com has sponsored worldwide, said the press release.

The report follows Crypto.com sponsoring women’s soccer team the Angel City Football Club, based in Los Angeles, at the end of 2021 after announcing the Staples Center in downtown Los Angeles to be renamed to Crypto.com Arena in one of the biggest naming rights deals in sports history.

This builds upon Crypto.com's sports partnerships with Formula 1, UFC, Paris Saint-Germain Football Club, Philadelphia 76ers (NBA), Montreal Canadiens (NHL), esports team Fnatic, Lega Serie A and Twitch Rivals.

CRO Price Action: As of Tuesday morning, Crypto.com's token is trading at $0.4417 after seeing its value fall by 2.06% over the last 24 hours.

Photo: Tom Reynolds via Flickr

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