tl;dr
The San Antonio Spurs have signed a multi-year sponsorship deal with Ledger, a hardware wallet manufacturer, marking a resurgence in crypto sports partnerships. The Spurs will feature Ledger-branded patches on their jerseys, and Ledger plans to support the team's community engagement in France. Ledg...
The San Antonio Spurs have inked a multi-year sponsorship deal with Ledger, a hardware wallet manufacturer, signaling a strong comeback for crypto sports partnerships. As part of the agreement, the Spurs will feature Ledger-branded patches on their jerseys, and Ledger will actively support the team’s community engagement efforts in France.
This partnership enables Ledger to bolster its presence in both the U.S. and French markets, leveraging the Spurs’ star player Victor Wembanyama’s French heritage. Ledger’s CEO highlighted the strategic alignment with an iconic U.S. sports franchise that boasts deep French connections as a way to reach the next generation of sovereign individuals.
Crypto sports sponsorships have jumped by 20% to $565 million for the 2024/25 season, marking a robust revival after a significant pullback in late 2022 following the FTX collapse. Football-related deals dominate this resurgence, including major partnerships like Tether’s stake in Juventus and Gate’s sponsorship of Red Bull Racing in Formula One.
Uniform branding deals, such as Ledger’s with the Spurs, constitute 37% of all crypto sports partnerships, making them a favored method for digital asset companies to engage fans and increase brand visibility. This resurgence starkly contrasts with the market instability-induced cancellations seen post-FTX, when crypto’s presence in sports sharply diminished.
Overall, Ledger’s deal with the Spurs is emblematic of the broader trend where digital asset firms are confidently renewing sports collaborations, signaling renewed optimism and a strategic push to connect with sports audiences globally.