BitMEX, a cryptocurrency exchange, has renewed its sports sponsorship deal with the popular Italian football club, AC Milan, ahead of the upcoming game season. The renewal came with an extension of the scope of the deal from a sleeves sponsor to a Premium Partner. The exchange will maintain its status as the Official Cryptocurrency Trading Partner of the Rossoneri.

BitMEX Sponsors AC Milan

However, neither the crypto exchange nor the club disclosed the scope of the extended deal. The financials also remain unknown. The announcement only highlighted that the renewed partnership will strengthen “BitMEX’s brand presence.”

“We are happy to continue our journey alongside a partner such as BitMEX, with whom we intend to take further steps forward in the path of digitalisation, innovation, and growth of the Club, but also to support the many charitable initiatives promoted by Fondazione Milan,” said Casper Stylsvig, the Chief Revenue Officer of AC Milan.

BitMEX is known for offering cryptocurrency derivatives, primarily perpetual futures. It also expanded into spot trading last year. The exchange also remained controversial as its co-founders and former management are facing serious charges in the US.

A Major European Football Club

The crypto exchange initially inked a sponsorship deal with AC Milan in August 2021, becoming its sleeves partner for two years. It supported AC Milan men’s and women’s teams, as well as the club’s esports team, AQM. BitMEX was the club’s first sleeve sponsor of the club.

AC Milan is one of the top Italian football clubs. It won the top domestic league, Serie A, in the 2021-2022 season but finished fourth last season. The club has been in existence since 1899 and has participated internationally, winning several top European and world-level trophies.

“We are thrilled to reinforce our partnership with AC Milan,” added Stephan Lutz, the CEO & Group CFO of BitMEX. “Beyond the philanthropic projects we have worked on together, we both appreciate and applaud the spirit of competition and the sense of connection that comes from it. At BitMEX, we strive to include connection and competition in the services and products we offer – our new social trading feature Guilds allows traders to team up as a Guild and trade against one another.”