We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive West Ham United columnist. Each week he’ll be giving his views on the biggest talking points at the London Stadium...
Dan Plumley has insisted that the jury is still out on financial partnerships in the Premier League as West Ham United continued with FinTech.
Crytpo has also started to rear its head now, with the Irons signing to continue their e-Wallet partnership, which allows fans to sign up and earn VIP benefits.
The Finance Expert admitted that there have been some financial horror stories based on these kinds of partnerships, and insisted it is currently a “craze”.
“The jury is still out on this one,” he exclusively told West Ham Zone.
“I think it seems to be a craze recently and it’s almost a bit of profile raising for the crypto industry as much as anything. The challenge with that is that clubs don’t want to miss the train that everyone is on and it’s a lucrative one, that’s the risk.
“I haven’t seen anything strategic yet and we’ve seen some absolute horror stories regarding crypto, so at the minute, clubs are hedging their bets as it could be something in the future, but likewise, there is a lot of risk and a lot of negative stuff at the minute and I just don’t get it.
“It’s a craze that has just been doing the rounds, whether it is here to stay, I don’t know yet.”
FinTech don’t appear to work through Crypto, although the only part that could be considered a risk is signing up to receive potential VIP benefits – we have seen that before.
David Gold and Sullivan are smart businessmen, and will only sign off on deals along with the boardroom that can benefit themselves and the club, not really anyone else.
This is also a sponsorship deal, with their branding across the advertising boards as well as other places, so this benefits both parties in multiple ways.
Horror stories have started popping up when clubs release tokens for their fans, and as we know so far, that is far from what is happening at the London Stadium and West Ham United.