Between late 2021 and mid-2022, a wave of high-profile endorsement deals appeared at the intersection of crypto and football: Iniesta tweeted for Binance, Neymar bought two BAYCs, Messi became Bitget's global ambassador, Ronaldo joined Binance for an NFT series. Five years on, this business category has accumulated a fairly complete public record — deal scale, regulatory response, class actions, and a clear shift in how the industry now allocates spend.

This piece does not evaluate any individual athlete's commercial choices. It observes the category: how it scaled, how regulators responded, where the legal cases stand, and what the current state looks like. All figures are current as of May 31, 2026.

Crypto firms' sports sponsorship spend peaked in 2021–2022. A Bloomberg report cited by PYMNTS in June 2022 put the cumulative industry investment in sports advertising and sponsorships at over US$2 billion by mid-2022 [1]. A 2022 Nielsen study at the time projected the "crypto/blockchain/NFT sports sponsorship" category to reach roughly US$5 billion by 2026 — a forward projection, not realized spend [2].

The second half of 2022 brought the crypto winter: Terra collapsed in May, FTX in November. Sportico reported in November 2022 that the category was "cooling off rapidly" [3]. Early signings were terminated early; renewals stalled.

By fiscal 2024/25, the sports-sponsorship tracker SportQuake measured crypto sports sponsorship spend at US$565 million, up 20% year-on-year, and within US$120 million of the 2022/23 peak of about US$685 million [4]. One detail is worth noting: football accounted for 59% of all new crypto sponsorships in 2024/25 — when the industry came back, the money returned mostly to football.

Major spending brands included Binance, Bitget, Crypto.com, FTX (which had no football endorsers — see below), and Stake.com. There was also a clear shift in how the money was allocated: from being channeled to individual superstar athletes in 2021–22, toward leagues and clubs in 2023–24. Crypto.com became the official crypto-platform partner of the UEFA Champions League in August 2024 [5]; Bitget signed a multi-year deal with La Liga in September 2024 [6].

The five public records below follow a unified format — signing date, scope, financial status — with every monetary figure clearly labeled as "officially disclosed" or "media-reported / estimated." None of the deals had its actual financial terms officially disclosed. This section does not evaluate any athlete's commercial judgment.

Cristiano Ronaldo × Binance — announced June 23, 2022, a multi-year NFT partnership [7]. Financial terms not officially disclosed; football-finance commentator Kieran Maguire publicly estimated the deal at "north of US$25 million" — a media estimate [8]. The "ForeverCR7" / "CR7" NFT collections launched on November 18, 2022 (the eve of the Qatar World Cup), with individual items priced from about US$77 to US$10,000, supported by mystery boxes and sign-up promotions [9]. Further drops followed. The partnership remains publicly active as of May 2026.

Andrés Iniesta × Binance — on November 24, 2021, Iniesta — then an active player — posted on X: "I'm learning how to get started with crypto with @binance #BinanceForAll" [10]. The same day, Spain's Comisión Nacional del Mercado de Valores (CNMV) replied publicly with a caution (see Act 3). This was the EU's first public-facing regulator response to a football star's crypto promotion. The relationship did not develop into a multi-year ambassadorship.

Lionel Messi × Bitget — announced October 24, 2022, as Bitget's "exclusive crypto exchange partner" on an initial two-year deal (2022–2024) [11]. Financial terms not officially disclosed. A clarification: a widely circulated "US$20M over 3 years" figure actually belongs to Messi × Socios.com (March 2022) — a separate and distinct deal [12]. On September 19, 2024, Bitget CEO Gracy Chen told CoinDesk the contract was "ending later this year," with renewal "still undecided" at the time [6]. As of May 2026, Bitget's own September 17, 2025 seventh-anniversary press release continues to list Messi as a current strategic partner ("Collaborations with legendary Messi, Juventus FC, MotoGP, LaLiga…") [11a], and Bitget's official Messi partnership page (bitget.site/messi-partnership) still describes the relationship in the present tense. The specific terms and timing of any renewal have not been publicly disclosed by Bitget, but the partnership remains publicly active in fact.

Neymar Jr. Buys BAYC — on January 20, 2022, on-chain records show Neymar purchased two Bored Ape Yacht Club NFTs: BAYC #6633 (159.99 ETH) and BAYC #5269 (189.69 ETH), together worth over US$1 million at the time (on-chain data via media reporting) [13]. This was an asset purchase, not a commercial endorsement. The BAYC class action (Real & Titcher v. Yuga Labs, dismissed October 2024 by the Central District of California) did not name Neymar as a defendant — the named defendants included Justin Bieber, Madonna, Paris Hilton, Serena Williams, and Stephen Curry [14].

Kylian Mbappé × Sorare — on June 29, 2022, Mbappé became Sorare's first "player ambassador, investor and social-impact partner" [15]. Investment amount not officially disclosed. This is the only deal among the five with an explicit equity component (though the specific equity stake remains undisclosed). The partnership remains active as of May 2026.

The regulatory response came primarily in late 2021 through early 2022, and targeted advertising and disclosure, not the athletes themselves.

Spain — CNMV replied directly to Iniesta's tweet on November 24, 2021: "Hola, @andresiniesta8, los criptoactivos, al ser productos no regulados, tienen algunos riesgos relevantes" ("Hello @andresiniesta8, crypto assets, being unregulated products, carry some significant risks") [16]. This was a public caution, not a formal sanction. Two months later, the CNMV issued Circular 1/2022 (published January 17, 2022; in force February 17, 2022) — the EU's first dedicated crypto-advertising regulation. Ads must be "clear, balanced, fair and not misleading," carry a prescribed risk warning, explicitly cover influencers, and any campaign reaching 100,000 or more people must be notified to the CNMV ten working days in advance [17].

United Kingdom — ASA — On December 15, 2021, the UK Advertising Standards Authority issued rulings against seven crypto-related ad campaigns the same day, covering eToro, Luno, Coinbase, Kraken, Skrill, CoinBurp, and Papa John's (a "free Bitcoin with pizza" promotion) [18]. One week later, on December 22, 2021, Arsenal Football Club was ruled in breach for its $AFC fan-token advertising [19]. On January 5, 2022, Crypto.com's advertising was ruled in breach. On March 2, 2022, Floki Inu's "MISSED DOGE. GET FLOKI" London Tube and bus campaign was banned for trivializing investment risk and exploiting FOMO [20]. On October 8, 2023, the UK Financial Conduct Authority (FCA) took over regulatory authority for "qualifying cryptoasset" promotions, introducing mandatory risk warnings, a 24-hour cooling-off period for new investors, and a ban on referral incentives [21].

United States — the SEC Kardashian Precedent — On October 3, 2022, the SEC announced a settlement with Kim Kardashian [22]. She had promoted the EthereumMax (EMAX) token without disclosing the US$250,000 promotional payment she received. The settlement totaled US$1.26 million — US$260,000 in disgorgement (representing the promotional payment plus prejudgment interest) and a US$1,000,000 civil penalty — plus an agreement not to promote crypto-asset securities for three years. She neither admitted nor denied the SEC's findings. This precedent has since been invoked in multiple celebrity-endorsement class actions.

EU — MiCA came into phased force in 2024–2025. Article 7 requires all crypto marketing to be "fair, clear and not misleading," clearly identifiable as marketing, consistent with the white paper, and to carry a prescribed regulatory disclaimer. Crucially, issuers and crypto-asset service providers (CASPs) bear liability for the communications of their partners and influencers [23]. National regulators (BaFin in Germany, AMF in France, etc.) enforce.

Beyond regulation, several crypto endorsement relationships have entered the US federal court system through class-action lawsuits.

Cristiano Ronaldo × Binance Class Action — On November 27, 2023, Sizemore et al. v. Ronaldo was filed in the US District Court for the Southern District of Florida (case 1:23-cv-24481-BB) [24]. Plaintiffs allege that Ronaldo "promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance"; that his statements were "deceptive"; and that he failed to disclose his compensation. The complaint cites a claimed 500% rise in "Binance" searches during Ronaldo's promotional activity and seeks damages "exceeding US$1 billion."

On May 4, 2024, Judge Roy Altman denied Ronaldo's motion to dismiss (and motion to compel arbitration) "without prejudice" and stayed the case pending arbitration rulings in a related matter (Sizemore v. Zhao, No. 1:23-cv-21261) [25]. As of May 31, 2026, there is no final judgment in this case, and no finding of liability — the accurate description is that Ronaldo has been "sued," not that he has been "found liable."

FTX Class Action is worth mentioning as a comparative reference: Garrison v. Bankman-Fried (Southern District of Florida, case 1:22-cv-23753, filed November 15, 2022) named Tom Brady, Gisele Bündchen, Stephen Curry, Shohei Ohtani, Naomi Osaka, David Ortiz, Larry David, Kevin O'Leary, and the Golden State Warriors as defendants [26]. To be clear: no football player is involved in this case — FTX had no football endorsers. On May 7, 2025, Judge K. Michael Moore dismissed 12 of the 14 claims, allowing two Florida/Oklahoma securities-law claims to proceed. The widely quoted line from his ruling: "While this behavior demonstrates that defendants were uninformed, negligent, or even reckless, it does not demonstrate that defendants had any knowledge of FTX's fraud, nor that they had the requisite intent to deceive or defraud investors" [27]. This sets a reference for the legal treatment of "uninformed endorsers." Shaquille O'Neal settled separately in April 2025 (terms undisclosed).

BAYC Class Action Dismissed — Real & Titcher v. Yuga Labs (Central District of California) was dismissed in October 2024, with the court holding that BAYC NFTs and ApeCoin do not constitute securities under the Howey test [14]. The SEC closed its parallel investigation into Yuga Labs in early 2025 without action [28]. This establishes a boundary for the securities-law exposure of "NFT endorsement promotion."

In short: as of May 2026, no football player has been found liable for crypto endorsement activities in any final court judgment. The Ronaldo case is in progress; the Kardashian matter was an administrative settlement (with no admission of fact); most FTX claims have been dismissed; the BAYC case has been dismissed.

Looking at the five-year arc as a whole, several observations emerge.

Existing endorsement relationships: Ronaldo × Binance remains publicly active (lawsuit unresolved); Mbappé × Sorare continues; Messi × Bitget remains publicly active — while the initial 2022–2024 contract period has passed and the specific terms of any renewal have not been publicly disclosed, Bitget's September 2025 official press release and current partnership page still use Messi imagery and refer to the relationship in the present tense; the one-off Iniesta × Binance promotion was not renewed; Neymar still holds his BAYCs but has no new publicly disclosed endorsement.

The shift in new signings: starting in 2023, crypto firms' sports spend has clearly moved from "individual star endorsements" toward "league and club partnerships." Crypto.com × UEFA Champions League (August 2024), Bitget × La Liga (September 2024), Bybit × Argentine Football Association (2026), Kraken sleeve sponsorships at Tottenham and Atlético Madrid — the money is still being spent, but the flow has changed.

The 2026 World Cup context: as of May 31, 2026, no crypto firm is among FIFA's top-tier 2026 World Cup sponsors [29]. Meanwhile, Ronaldo (age 41, Portugal, Group K) and Messi (age 39, Argentina, Group J) are both confirmed for the 2026 tournament — making each player's record sixth World Cup appearance. If both win their groups, the earliest possible Ronaldo–Messi meeting would be in the Kansas City quarter-final on July 11.

Five years on, the "football stars × crypto endorsements" business category has been through scaled spending, regulatory response, legal challenges, and a substantive shift in model. The category today looks very different from what it was five years ago. There will be more activity during the World Cup itself. What's visible, what's verifiable, what hasn't been ruled on — it's all in the public record.

[1] PYMNTS, "Sports Sponsorships Still in Play for Crypto Firms" (citing Bloomberg's $2bn+ cumulative figure), June 2022. https://www.pymnts.com/cryptocurrency/2022/sports-sponsorships-still-in-play-for-crypto-firms/

[2] SportsPro, "Blockchain sports sponsorship spend to reach US$5bn by 2026, says study" (Nielsen study). https://www.sportspro.com/news/blockchain-crypto-nft-sports-sponsorship-nielsen-study/

[3] Sportico, "Sports Crypto Sponsorship Category Cooling Off Rapidly, but Upside Remains", November 2022. https://www.sportico.com/business/sponsorship/2022/sports-crypto-sponsorship-category-cooling-off-1234692199/

[4] SportQuake, "Crypto's Sponsorship Surge: $565M Spent, 34 New Deals and Football at the Centre of Strategy", May 2025. https://www.sportquake.com/news-insights/cryptos-sponsorship-surge-565m-spent-34-new-deals-and-football-at-the-centre-of-strategy/

[5] Crypto.com, "Crypto.com and UEFA Announce UEFA Champions League Partnership", August 14, 2024. https://crypto.com/en/company-news/cryptocom-and-uefa-announce-uefa-champions-league-partnership

[6] CoinDesk, "Crypto Exchange Bitget Seals 'Multi-Million Dollar' Deal With La Liga" (with CEO Gracy Chen on the Messi contract ending), September 19, 2024. https://www.coindesk.com/business/2024/09/19/crypto-exchange-bitget-seals-multi-million-dollar-deal-with-la-liga

[7] NFT Plazas, "Binance Inks Multi-Year NFT Deal with Cristiano Ronaldo", June 24, 2022 (announcement made via Ronaldo's X account on June 23, 2022). https://nftplazas.com/binance-nft-deal-cristiano-ronaldo/

[8] Kieran Maguire's public commentary, widely cited by The Athletic and other outlets, estimating the Ronaldo × Binance deal at "north of US$25 million" (aggregator citation, not pointing to a single source page). https://theathletic.com/

[9] Binance NFT platform — "Forever CR7" series launched November 18, 2022 (specific launch page URL not directly located; facts cross-referenced via NFT Plazas, Gulf News, and Cristiano Ronaldo's official X account [@Cristiano]). https://www.binance.com/en/nft

[10] CoinDesk, "Soccer Star Andrés Iniesta Warned by Spanish Regulator After Promoting Binance", November 25, 2021. https://www.coindesk.com/business/2021/11/25/soccer-star-andres-iniesta-warned-by-spanish-regulator-after-promoting-binance

[11] Bitget, "Bitget partners with Leo Messi" (official announcement), October 24, 2022 (the official blog page is dated October 21; PR Newswire press release dated October 24 — both dates cross-referenced from official sources). https://www.bitget.com/blog/articles/Bitget-partners-with-Leo-Messi

[11a] Bitget, "Bitget Turns 7, Coining the 'Universal Exchange' as the Next Generation of Exchanges" (seventh-anniversary press release listing Messi as a current strategic partner), GlobeNewswire, September 17, 2025. https://www.globenewswire.com/news-release/2025/09/17/3151772/0/en/Bitget-Turns-7-Coining-the-Universal-Exchange-as-the-Next-Generation-of-Exchanges.html

[12] SportsPro, "Lionel Messi bags latest cryptocurrency sponsorship with Bitget" (distinguishing from the prior Socios.com deal), October 2022. https://www.sportspro.com/news/lionel-messi-bitget-sponsorship-cryptocurrency-web-3/

[13] Neymar's purchase of BAYC #6633 and #5269 on January 20, 2022 (OpenSea on-chain records; specific transaction URLs not directly located; facts cross-referenced via CryptoPotato, Boardroom, BeInCrypto and other media reporting).

[14] Decrypt, "Bored Ape Creator Yuga Labs Says SEC Closing Investigation in 'Huge Win' for NFT Sector" (with Real & Titcher v. Yuga Labs dismissal information), March 3, 2025. https://decrypt.co/308539/bored-ape-creator-yuga-labs-says-sec-closing-investigation-in-huge-win-for-nft-sector

[15] PR Newswire, "Kylian Mbappé joins forces with Sorare as investor, social impact partner and ambassador", June 29, 2022. https://www.prnewswire.com/news-releases/kylian-mbappe-joins-forces-with-sorare-as-investor-social-impact-partner-and-ambassador-301577228.html

[16] CriptoNoticias, "Andrés Iniesta es fichado por Binance y la CNMV le advierte sobre riesgos de bitcoin" (with the CNMV's original Spanish-language reply), November 24, 2021. https://www.criptonoticias.com/regulacion/andres-iniesta-fichado-binance-cnmv-advierte-sobre-riesgos-bitcoin/

[17] Vicox Legal, "The CNMV and the regulation of crypto advertising" (Circular 1/2022 analysis). https://vicox.legal/en/la-cnmv-y-la-regulacion-de-la-publicidad-cripto/

[18] UK Advertising Standards Authority, December 15, 2021 single-day cluster of crypto advertising rulings (covering eToro, Luno, Coinbase, Kraken, Skrill, CoinBurp, Papa John's; ASA's own specific ruling page slugs not directly located; facts cross-referenced via CoinDesk, CNN, FT and Euronews coverage). https://www.asa.org.uk/

[19] Advertising Standards Authority, "Arsenal Football Club plc Ruling" ($AFC fan token advertising), initial ruling December 22, 2021; upheld August 10, 2022 (ASA's own specific ruling page slug not directly located; facts cross-referenced via Reuters, CNN, FT, Euronews and International Adviser coverage). https://www.asa.org.uk/

[20] Advertising Standards Authority, "Floki Inu Ruling" ("MISSED DOGE. GET FLOKI" London Tube and bus campaign), March 2, 2022 (ASA's own specific ruling page slug not directly located; facts cross-referenced via CoinDesk, PYMNTS, Irish Times and The Drum coverage). https://www.asa.org.uk/

[21] UK Financial Conduct Authority, "FCA sets expectations ahead of incoming crypto marketing rules", regime effective October 8, 2023. https://www.fca.org.uk/news/press-releases/fca-sets-expectations-ahead-incoming-crypto-marketing-rules

[22] US SEC, "SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security" (Press Release 2022-183), October 3, 2022. https://www.sec.gov/news/press-release/2022-183

[23] EU MiCA Article 7 (marketing rules), phased entry 2024–2025. Reference: https://eur-lex.europa.eu/eli/reg/2023/1114/oj

[24] Sizemore et al. v. Cristiano Ronaldo dos Santos Aveiro, US District Court for the Southern District of Florida, case 1:23-cv-24481-BB, filed November 27, 2023 (complaint PDF). https://www.classaction.org/media/sizemore-v-ronaldo.pdf

[25] Newsweek, "Cristiano Ronaldo Suffers Legal Blow" (with the Judge Altman May 4, 2024 paperless order quoted verbatim), May 7, 2024. https://www.newsweek.com/cristiano-ronaldo-legal-blow-binance-lawsuit-sizemore-1897875

[26] Garrison v. Bankman-Fried et al., US District Court for the Southern District of Florida, case 1:22-cv-23753, filed November 15, 2022 (public court docket case number; specific docket URL not directly located; case number cross-referenced via CNBC, Sportico and CourtListener).

[27] CNBC, "Steph Curry, Tom Brady and other celebrities excluded from most FTX investor claims, judge rules" (with Judge Moore's May 7, 2025 ruling quoted verbatim), May 8, 2025. https://www.cnbc.com/2025/05/08/ftx-claims-steph-curry-tom-brady-celebrities.html

[28] Decrypt, SEC closes Yuga Labs investigation, March 3, 2025. https://decrypt.co/308539/bored-ape-creator-yuga-labs-says-sec-closing-investigation-in-huge-win-for-nft-sector

[29] Crypto News, "Crypto is All Over the 2026 World Cup, Just Not as an Official FIFA Sponsor". https://cryptonews.net/news/other/32924560/