Leicester City issue statement after crypto gambling sponsor declared BANKRUPT

Two companies which tally Leicester sponsor BC.Game, an online gambling and gaming level which uses cryptocurrency, has been declared bankrupt successful a tribunal successful Curacao

Leicester accidental they person been fixed “strong assurances” that their caller front-of-shirt sponsor remains committed to the club, contempt 2 related companies being declared bankrupt successful Curacao.

The Foxes signed a two-year sponsorship woody with BC.Game successful July pursuing their promotion to the Premier League. At the time, the nine was delighted to trumpet the deal, reportedly worthy £30million, with a institution it described arsenic a “community-based, online cryptocurrency gaming platform”.

But conscionable 4 months on, determination person been worrying reports from the Caribbean territory of Curacao, wherever Blockdance BV and Small House BV person been declared bankrupt successful court. A justice made the determination aft ruling that the 2 companies, which tally BC.Game, had failed to conscionable their fiscal obligations owed to allegedly failing to wage customers and conscionable regulatory requirements.

The ruling has prompted superior questions astir the aboriginal of BC.Game, with 2 complainants claiming they had not been paid winnings of €1.3m (£1.08m) and €639,000 (£532,000). However, Leicester maintains that the lawsuit volition not interaction their sponsorship woody with BC.Game.

A nine spokesperson told Mirror Football : "We person been and proceed to beryllium successful regular discussions with BC.Game with respect to an progressive ineligible lawsuit successful Curacao. BC.Game person provided the nine with the strongest assurances that they are actively appealing this case, and that the process which has been initiated successful Curacao is administrative successful quality and has not arisen owed to immoderate concerns with their fiscal standing.

"BC.Game person further assured america that they person nary issues with liquidity and that they stay afloat committed to gathering their ongoing contractual and fiscal obligations, including to the club, and that this lawsuit volition not interaction connected BC.Game’s continuing planetary operations."

In its ain statement, BC.Game confirmed they were appealing the judgement, which was handed down contempt determination being “several inconsistencies successful the grounds presented”. They besides took purpose astatine the lawyer representing the complainants, alleging it “may beryllium a malicious suit orchestrated by outer forces aiming to exploit the ineligible strategy for unjust gain”.

In July Leicester said BC.Game’s “platforms usage the benefits of blockchain technology to supply crypto enthusiasts with a transparent, just and unafraid gaming environment, wherever outcomes tin beryllium independently verified done the integrity of the blockchain”. But the Gambling Commission confirmed to Mirror Football that BC.Game is not licensed successful the UK and is blocked to British consumers.

Leicester are heavy reliant connected specified sponsorship deals, having narrowly avoided a points deduction for alleged breaches of nett and sustainability rules successful September. The nine successfully argued that the Premier League didn’t person jurisdiction to punish them, contempt losing £129.4m implicit 3 seasons starring up to the 2022/23 season, much than the permitted losses of £105m.

The Premier League voted to prohibition gambling sponsors from the opening of the 2026/27 season, but presently 11 of the 20 sides successful the league person a gambling institution arsenic a garment sponsor.