Tottenham chairman Daniel Levy has been told that he and others at the club have 'disregarded' the Tottenham Hotspur Supporters' Trust representatives who warned them against agreeing a new partnership deal with blockchain-based fan token company Socios.
The company, based in Malta and founded in 2018, is a 'fan engagement' concept that allows clubs and brands to monetize their supporters more easily. According to their website, the main way supporters are able to influence their club is through 'Fan Tokens', «a digital asset that can transform your passion into extraordinary rewards».
The tokens can be purchased and then used to vote in polls decided by the club, and can then enter competitions to win prizes and competitions. Socios currently hold partnerships with some of Europe's biggest clubs including FC Barcelona, Paris Saint-Germain, Juventus and became the main shirt sponsor of Inter Milan two years ago.
However, concerns have been raised by supporters over the cryptocurrency-based element of the deal. The initial announcement was hit with backlash after many raised the point that the club is promoting supporters to invest their money into an ecosystem of which they'd have very little knowledge, and which has a high risk of plummeting in value at any point given its unregulated nature.
It comes as a shock choice by the club given their recent success on the pitch, with new manager Ange Postecoglou helping to mend the broken relationship between the supporters and the club after the past few torrid years by starting their Premier League campaign off with an unbeaten start through their first six matches. But ahead of tonight's clash with Liverpool, the Tottenham Hotspur Supporters' Trust have posed the question of
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