Portuguese soccer club Sporting Lisbon and Italian team Spezia canceled their sponsorship deals with Turkish crypto firm Bitci, Bloomberg reported Thursday.
- Sporting Lisbon made the decision because Bitci failed to make its payments, Bloomberg said, citing a person familiar with the matter.
- A reason for Spezia's decision wasn't given.
- The news comes just 10 days after motor racing team McLaren terminated its relationship with Bitci, without giving a reason.
- Bitci operates a crypto exchange and mining facility while also offering fan tokens in partnership with a number of major sports brands. Last year, the firm launched fan tokens for the national soccer teams of both Brazil and Spain as well as numerous club sides, including the English Premier League's Wolverhampton Wanderers and Scottish Premiership team Rangers.
- The firm last month revealed plans to expand beyond its native Turkey with new exchanges in Brazil and Spain.
- Bitci, Sporting Lisbon and Spezia didn't immediately respond to requests for comment.
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