AZ Alkmaar Plans to Pay Its Players in BTC and Hold Bitcoin

AZ Alkmaar plans to become the first football club in the Netherlands to pay their players` in Bitcoin.

On Thursday, the Eredivisie side announced a statement posted on the club’s website as its official and exclusive cryptocurrency partner until mid-2024. It finished its third part in the 2020/2021 Dutch football season.

According to this announcement, the deal regarding sponsorship will be fully finalized in Bitcoin. The Dutch club has intentions to keep bitcoin on its balance sheet.

AZ Alkmaar also announced that it would begin paying its players in Bitcoin. It will be a sign of joining the growing list of sports adopting Bitcoin for paying professional athletes.

For Michael Koster, commercial director of AZ, the appeal of crypto and Bitcoin is undeniable in terms of the club’s decision to adopt Bitcoin. Moreover, Koster added that with the exponential growth of users, the cryptocurrency market is booming in recent years.

Koster also talked that non-crypto entities such as football teams require the complete guidance of established market participants similar to Bitcoin Meester. Indeed, this crypto broker is considered one of the few licensed cryptocurrency businesses coming from the Dutch central bank.

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In the Netherlands, Crypto regulations seem to be an important topic of discussion between the authorities. Surprisingly, one official government recently decided to call for a complete ban on Bitcoin.

Crypto companies decided to increasingly enter into deals regarding sponsorship with sports teams. It helps them grow their business and boost their brand recognition. As reported by Cointelegraph, recently, Crypto.com agreed to announce a global partnership with Formula 1.

From the National Basket Ball Association to Major League Baseball, several American sports clubs and star athletes embrace crypto and Bitcoin. In June, Tom Brady, Super Bowl champion, inked a celebrity crypto deal with FTX – crypto exchange giant.