Gemini to sponsor English football team Bedford FC
The crypto exchange is sponsoring a club that sits in the tenth tier of English football
Gemini, the crypto exchange headquartered in New York and founded by Cameron and Tyler Winklevoss, has become the front-of-shirt and lead sponsor of English football team Bedford FC.
Bedford FC are currently members of the Spartan South Midlands League Division One and play at McMullen Park.
Tyler Winklevoss said that Gemini had spoken to the big European clubs and “after careful consideration” the crypto exchange decided to sponsor Bedford FC.
The owner of Bedford FC is Peter McCormack, who is the host of podcast What Bitcoin Did and a bitcoin (BTC) bull. In Winklevoss’ tweet, the Gemini co-founder said the company wished to support McCormack’s mission to take the football club, which is currently in the tenth tier of the English football league system, to the Premier League.
Following his purchase of Bedford FC, McCormack told the BBC in December 2021 that he plans to persuade the worldwide BTC community to financially back the team.
McCormack gave the example of Ryan Reynolds and Robert McElhenney who jointly own Wrexham AFC in Wales, putting millions into the club, whereas, via BTC, the podcaster is planning to raise far more.
The reason McCormack bought Bedford is that he grew up in the area. McCormack tweeted to personally thank Tyler, Cameron and everyone at Gemini for supporting his Bedford football project.
As well as being on the front of the team’s shirt, Tyler said there may also be potential media opportunities for Gemini by sponsoring the club.
150 million people around the world own BTC
McCormack says 150 million people around the world own BTC and he intends to use his crypto contacts to access potential funding to help the club rise through the football leagues.
McCormack said: “The people in the Bitcoin community are very supportive of this, they want to buy shares, they want to buy hoodies, they want to buy t-shirts. I’ve already closed a significant amount of sponsorship.
“We’ve got a target revenue for year one – when I say year one, I mean the rest of the season and next season – of £1.5m to £2m of revenue, which we can certainly do from selling merchandise online and selling sponsorship to the Bitcoin companies, and that money would then be invested in the team and local football.
“I’ve been sitting down with some of the major players in bitcoin, people who are considerably wealthy, and I’ve been pitching them the dream. So far, everybody I’ve spoken to wants to put money into this.”