The collapse of crypto platform FTX has triggered a lawsuit against Buccaneers quarterback Tom Brady and other celebrities. It also has sparked legal action against the Golden State Warriors.
Via Reuters.com, the Warriors were named as one of the defendants in a class action filed in a California federal court on Monday. The Warriors separately were sued in the lawsuit that personally names Brady.
The NFL and its teams don’t have to worry about getting directly ensnarled in such issues. For now. Per an NFL spokesperson, the league paused sponsorship discussions “months back” due to the volatility of the industry.
That didn’t keep the Cowboys from doing a partnership with Blockchain.com. However, per the league, there aren’t many others.
There’s no policy that prohibits such deals (as evidenced by the Cowboys’ arrangement), but the league requires clubs who pursue crypto sponsorships engage in due diligence, ensuring that the teams partner with established companies and protected the overall NFL brand.
it was a smart move. There was always a too-good-too-be-true vibe when it comes to crypto. As is usually the case, anything that seems too good to be true is.